AI Startup Emergent Secures $70 Million in Series B Round Led by SoftBank, Khosla Ventures

Indian software startup Emergent has raised $70 million in a Series B funding round led by Khosla Ventures and SoftBank Vision Fund 2, as per news reports.  

Other investors in the round include Prosus, Lightspeed, Together Fund and Y Combinator. The company did not disclose the valuation at which the round was completed. 

Timeline of Fundraising 

The Series B round comes less than three months after Emergent raised $23 million in a Series A round led by Lightspeed Venture Partners, with participation from Prosus and other investors.  

In December, the company also received additional funding from the Google AI Futures Fund. Following the latest round, Emergent’s total funding stands at $100 million within seven months of launch. 

Users and Revenue 

Emergent said its platform has more than 5 million users across over 190 countries. The company reported that its annual recurring revenue has increased from about $100,000 to $50 million over the past 7 months.  

It said it expects annual recurring revenue to cross $100 million by April 2026, based on current growth. 

Product Overview 

The startup operates an artificial intelligence-based platform that enables users to design, build, test and deploy full-stack web and mobile applications.  

According to the company, the platform provides production-ready software and includes integrated billing and monetisation tools. Users range from individuals to small businesses building applications for commercial use. 

Use of Proceeds 

Emergent said the funds raised will be used to expand its research and engineering teams in San Francisco and Bengaluru.  

The company also plans to invest in further product development and to support expansion into new markets as demand for AI-based software tools grows. 

Investor Activity 

SoftBank’s participation marks its 1st new investment in an Indian startup in over 3 years. In recent years, the firm has largely focused on follow-on investments in existing portfolio companies rather than backing new ventures. 

Read More: AI and Semiconductor Manufacturing to Drive Job Growth in India by 2030: MeitY Secretary! 

Conclusion 

With the Series B round, Emergent’s total funding has reached $100 million in seven months. The company plans to use the capital to support staffing, product work and expansion across geographies. 

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