Mumbai, Jan 20 (PTI) Software creation platform Emergent on Tuesday said it raised USD 70 million from Khosla Ventures and SoftBank Vision Fund 2.
The AI-enabled software creation platform that helps anyone
build full-stack, production-ready web and mobile applications will deploy the fund for team expansion, product development, and entering newer markets, as per an official statement.
The latest funding round, which also saw participation from Prosus, Lightspeed, Together, and Y Combinator, takes the overall quantum of funds raised by the company since its launch seven months ago to USD 100 million.
It has scaled to USD 50 million in annual recurring revenue (ARR) already, and is on track to surpass USD 100 million ARR by April 2026, the statement said, adding that it is the fastest-scaling technology startup in India by revenue.
"Emergent is growing at a pace we rarely see because it is tapping into a segment that has never been served," said Vinod Khosla, founder of Khosla Ventures.
The company's co-founder and chief executive Mukund Jha said Emergent flips the model followed till now, which saw people with technical training or capital turning ideas into real products.
"We are seeing millions of people build and ship real businesses, workflows, and products in days. As a result, many are generating new sources of income," he added.
The investment marks SoftBank's return to AI investments in India, signalling renewed conviction in the country's next wave of AI-led companies, the statement said.
"Emergent is harnessing AI to unlock a massive wave of entrepreneurship by removing the technical and capital barriers that have historically limited who can build software," said Sarthak Misra, partner at SoftBank Investment Advisers. PTI AA HVA
