<article>Singapore-based Jungle Ventures and European venture capital firm Lakestar have co-led a $29.5-million Series A round in human-assisted artificial intelligence platform Engineer.ai, said the startup in a statement on November 6.</article>

Singapore-based Jungle Ventures and European venture capital firm Lakestar have co-led a $29.5-million Series A round in human-assisted artificial intelligence platform Engineer.ai, said the startup in a statement on November 6.
The round was also joined by SoftBank&#8217;s AI incubator Deepcore. According to the startup, Jungle Ventures is actively helping Engineer.ai expand its offerings in emerging Asia with Singapore as a hub.
&#8220;We&#8217;re believers in Engineer.ai&#8217;s total ecosystem; making bespoke software like the iPhone with aftercare and a marketplace for all recurring services; SMEs don&#8217;t need to go anywhere else. Ultimately Engineer.ai&#8217;s Builder is the new SaaS; except this time, it&#8217;s affordable, custom and actually delivers value to your business and its customers,&#8221; said Jungle Ventures co-founder and managing partner Amit Anand.
Engineer.ai&#8217;s Builder is an AI-powered software assembly line that breaks projects into small building blocks of re-usable features that are customized by elastic human capacity from around the world; delivering high-quality bespoke software at a fraction of the price and time of traditional development.
&#8220;This investment round validates our approach of making bespoke software effortless. The capital comes at a time of rapid growth and will propel the platform into the mainstream, allowing Builder to open the door for entire categories of companies that could not consider it before,&#8221; said Engineer.ai founder and chief wizard Sachin Dev Duggal.
Founded in January 2012, London and Los Angeles-headquartered Engineer.ai claims it has already attracted hundreds of customers across many geographies, from e-commerce and m-commerce platforms to social apps.
It claims it is set to cross the $100-million revenue mark by end of 2020. The startup also has offices in Delhi and Tokyo.
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The round was also joined by SoftBank's AI incubator Deepcore. Jungle Ventures will actively help Engineer.ai expand its offerings in emerging Asia with Singapore as the hub.

Jungle Ventures, Lakestar co-led $29.5m Series A in Engineer.ai

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Jungle Ventures, Lakestar co-led $29.5m Series A in Engineer.ai

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