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Builder.ai, an artificial intelligence-focused startup based in London, has secured investment from US tech giant Microsoft. While the funding amount has not been disclosed, the two companies plan to work together to develop AI-powered solutions that will enable businesses to create applications. This collaboration is expected to benefit both companies and accelerate the adoption of AI in application development.
The collaboration between Builder.ai and Microsoft aims to expand their market presence by establishing connections between their respective products. With the help of the software assembly line from Builder.ai, they intend to connect Microsoft's Azure OpenAI Service and other Azure Cognitive Services, as per reported by Inc42.
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Additionally, the collaboration aims to encourage the adoption of Microsoft Cloud and AI among Builder.ai's clients. By leveraging each other's strengths and capabilities, both companies are looking to provide more value to their customers and create new opportunities for growth in the AI space.
According to Builder.ai, the inclusion of their AI product manager Natasha in the Microsoft Teams store will facilitate the creation of application prototypes for Microsoft customers looking to build their business models.
As a result of the partnership, the startup will assist companies with their digital transformation needs by providing them with integrated access to cloud services available on Azure.
This recent development occurred almost a year after the startup secured $100 million in its Series C funding round. During that round, Insight Partners, a New York-based company, led the way. The round, which raised the startup's total funding to $195 million, involved existing investors as well as new ones such as IFC, Jeffrey Katzenberg WndrCo, and Nikesh Arora.
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Builder.ai was established in Gurugram in 2016 by Sachin Dev Duggal and Saurabh Dhoot. Its platform empowers entrepreneurs to develop apps without the need for extensive coding knowledge, thanks to AI assistance. The company asserts that its platform enables the creation of software and apps at a pace that is up to 6 times faster and up to 70% cheaper than using traditional human teams.
This new partnership is in line with Microsoft's objective of utilizing the power of AI to compete with Google's Workspace. Microsoft's ChatGpt has already shown how AI can help people realise their potential on both a personal and professional level. With an AI assistant named Copilot, Microsoft unveiled new AI integration and functionality for its Office 365 platform in March.
During its recent I/O keynote, Google provided a sneak peek of its latest tool for Workspace called Duet AI, which will assist users in composing emails, generating summaries, and composing documents.
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AI-focused startups have gained significant attention from investors in recent times due to the widespread popularity and aggressive adoption of AI across various segments and industries. Despite a funding downturn early this year, startups like Mad Street Den and Entropik have secured notable investments. Mad Street Den secured $30 million in funding, while emotional AI startup Entropik received $25 million in its Series B round, which was led by Bessemer Venture Partners and SIG Venture Capital in February.
About Builder.ai
AI-powered Builder.ai assists in building and managing software projects. Its platform and human-assisted AI let organisations, small businesses, and entrepreneurs build, run, and expand applications without technical skills or code.
