Builder.ai Founder Sachin Dev Duggal Replaced as CEO
Portfolio - People | Mar 04, 2025 | Business Cloud
Sachin Dev Duggal, the founder of Builder.ai, a London-based AI-powered software platform company, has stepped down from his role as CEO amidst controversy. Duggal will be replaced by Manpreet Ratia, managing partner at Jungle Ventures, yet he will stay with the company under the title of chief wizard. Builder.ai, backed by Microsoft and SoftBank, claims to expedite app and software creation significantly, promising to be much faster and cheaper than conventional human teams. In 2023, the company raised over $362 million in a funding round led by the Qatar Investment Authority. However, challenges in leadership style, delivery issues, and international legal troubles, particularly concerning a money laundering investigation linked to the Indian firm Videocon, have created significant headwinds. Duggal is currently appealing a warrant linked to this investigation while denying any allegations of wrongdoing. Duggal stated that new leadership would bring a fresh perspective and help achieve operational excellence and innovation. This leadership change is seen as a crucial step for the company's next growth phase.
Sectors
- Technology
- Private Equity & Venture Capital
- Legal
Geography
- United Kingdom – Builder.ai is based in London, making the UK the primary geographic focus for the company.
- India – Legal issues concerning Sachin Dev Duggal and the link to the Videocon investigation firmly place India as a key geographic point of interest.
Industry
- Technology – Builder.ai operates within the technology sector, providing AI-powered software and app creation services.
- Private Equity & Venture Capital – The involvement of investors such as Microsoft, SoftBank, and Jungle Ventures illustrates the venture capital backing within this context.
- Legal – The legal issues involving Sachin Dev Duggal and the Videocon investigation highlight the relevance of the legal sector.
Financials
- $362 million – The total funds raised by Builder.ai after a 2023 investment round led by the Qatar Investment Authority.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Builder.ai | Target Company | Company | A London-based AI-powered software platform company involved in building software and apps efficiently. |
| Sachin Dev Duggal | Former CEO and Founder | Person | The founder of Builder.ai who has been replaced as CEO but remains with the company as chief wizard. |
| Manpreet Ratia | Incoming CEO | Person | Managing Partner at Jungle Ventures appointed as the new CEO of Builder.ai. |
| Jungle Ventures | Venture Capital Investor | Company | Asia-focused investor backing Builder.ai, with one of its managing partners stepping in as CEO. |
| Microsoft | Investor | Company | One of the backers of Builder.ai, indicating involvement in the technology sector's investment. |
| SoftBank | Investor | Company | Another significant investor backing Builder.ai, pointing to its involvement in technology investments. |
| Qatar Investment Authority | Lead Investor in 2023 Funding Round | Company | Led a funding round in 2023 raising Builder.ai's total funds to over $362 million. |
| Indian Directorate of Enforcement | Government | Government | Responsible for investigating money laundering cases in India and linked to investigation involving Sachin Dev Duggal. |
| Videocon | Company linked to Legal Investigation | Company | An Indian firm that went bankrupt in 2018, associated with the money laundering investigation involving Sachin Dev Duggal. |