News on Medial

Microsoft-backed Indian unicorn files for bankruptcy as investor takes ₹318 cr from accounts

Inshorts · 14d

Builder.ai, an AI unicorn founded by Indian entrepreneurs and backed by investors like Microsoft and Qatar Investor Authority, has filed for bankruptcy. The startup's CEO Manpreet Ratia said they took the decision as Viola Credit, which gave Builder.ai $50-million debt last year, had taken $37 million (over ₹318 crore) from the startup's accounts. The startup was once valued $1 billion.