Builder.ai founder plots potential deal to buy failed company

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Builder.AI founder Sachin Dev Dougal has heard investors in a potential agreement to buy the UK software company failed outside Insolvency.

Microsoft-supported artificial intelligence is start-up, which once was worth more than $ 1 billion, staff told At the beginning of this week It will start insolvency activities because of the “Historic Tihasic Challenge and Past Decision”.

Earlier this year, Dugal, who resigned as Chief Executive, retained the position of his board and “Chief Wizard”, contacted multiple investors about the purchase of his established company, according to the two with the knowledge of the discussion.

To a recent investor in Dugal, the pitch, whose details were divided with FT, are the builder.

Dugle further explained that he thought that this deal would require less than $ 10 million for initial funds, the company needs $ 25 million before collecting money.

He further suggested that investors were willing to invest in the evaluation of $ 1.8bn only 90-day ago, before its financial generosity began sincerely.

The main units of the Builder.AI are in the United States and the UK, there are more helpful companies in regions like India and Singapore. According to people familiar with the matter, it is planned to file multiple insolvent activities in several jurisdictions.

Any attempt to buy the resources of the company can be complicated by the fact that the Builder. This has promised most of his intellectual property to a group of NDs in October. These ND donors have recently helped to trigger the fall of the Builder.Er by making a default call at this $ 50 million facility.

FT had informed the beginning of this week that the Builder.E was broken even after internal investigation Possible bogus sales And indicated that there could be a combined effort to increase the revenue.

The previous revenue statistics were previously written heavyly submitted to the board led by Dugal.

Builder.i claimed that it could use artificial intelligence to create an app or website “easy to order pizza”.

This pitch attracted more than $ 500 million in this organization, including the world’s most prominent technology investors and an AI-focused unit in the softbank.

FT said at the beginning of this week that some of its shareholders had left $ 75 million earlier this year at the beginning of this year, as it was facing cash balance and mounted on Debts.

Dugal and Builder.AI did not immediately respond to the requests for comments