> ## Content Index > Fetch the complete content index at: https://entrepreneurplus.co.uk/llms.txt > Use this file to discover other available public pages before exploring further. # Builder.ai - URL: https://entrepreneurplus.co.uk/graveyard/builder-ai/ - Published: 2026-10-21T11:11:31.000Z - Updated: 2026-10-21T11:30:04.000Z - Description: 'AI' app-building unicorn; insolvency May 2025 after revenue restatement, UK arm wound up by court - Author: Editorial Desk - Tags: #ep-grave ✝ Startup · Compulsory liquidation · 20 May 2025 'AI' app-building unicorn; insolvency May 2025 after revenue restatement, UK arm wound up by court Companies House [10998363](https://find-and-update.company-information.service.gov.uk/company/10998363?ref=entrepreneurplus.co.uk) · Liquidation How it ended Compulsory liquidation Ended 20 May 2025 Founded 2017 Sector AI & Data Based in London Funding raised $450M Backed by Qatar Investment Authority, Microsoft, Insight Partners, Jungle Ventures, Iconiq Capital Last known website [builder.ai](https://www.builder.ai/?ref=entrepreneurplus.co.uk) Last checked 21 October 2026 ## What happened Builder.ai, trading through Engineer.ai entities, sold a platform that promised to assemble custom apps using AI and a network of developers. Founded by Sachin Dev Duggal, its UK company Engineer.ai Global Limited was incorporated in October 2017\. It raised more than $450m, including a $250m Series D in 2023 led by the Qatar Investment Authority, with Microsoft taking an equity stake. In early 2025 it restated prior-year sales, cut 2023 revenue to about $140m, appointed auditors to review its accounts and replaced Duggal as chief executive with Manpreet Ratia. In May 2025 lenders led by Viola Credit swept most of its cash after covenant breaches, leaving it unable to pay staff. On 20 May 2025 the company said its main unit, Engineer.ai Corporation, would enter insolvency; that US entity filed for Chapter 7 in Delaware. A creditor petitioned to wind up the UK company on 17 July 2025 and the High Court made a winding-up order on 10 September 2025. ## Why - Governance / credibility - Cost of capital / unit economics ## What happened to the assets, customers and team The group's main unit went into US Chapter 7 bankruptcy with creditors reportedly including Amazon and Microsoft for unpaid cloud services; the UK company Engineer.ai Global Limited was put into compulsory liquidation on 10 September 2025 on a petition by Unity Marketing Limited, with the Official Receiver (London) as office holder. Around 270 of roughly 770 staff had already been cut in April 2025. ## In their words > could not recover from historic challenges and past decisions that significantly strained its financial position > > Builder.ai, company statement · [source](https://tech.eu/2025/05/20/ai-unicorn-builderai-confirms-insolvency-proceedings/?ref=entrepreneurplus.co.uk) > will be entering into insolvency proceedings and will appoint an administrator to manage the company's affairs > > Builder.ai, company statement to the Financial Times · [source](https://tech.eu/2025/05/20/ai-unicorn-builderai-confirms-insolvency-proceedings/?ref=entrepreneurplus.co.uk) ## Lessons Revenue reported to investors was restated sharply downward, and venture debt with covenants gave lenders the power to sweep cash the moment the numbers slipped, turning a governance failure into an immediate liquidity collapse. ## Sources 1. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/10998363?ref=entrepreneurplus.co.uk) 2. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/10998363/insolvency?ref=entrepreneurplus.co.uk) 3. [thegazette.co.uk](https://www.thegazette.co.uk/notice/4952195?ref=entrepreneurplus.co.uk) 4. [thegazette.co.uk](https://www.thegazette.co.uk/notice/4961929?ref=entrepreneurplus.co.uk) 5. [tech.eu](https://tech.eu/2025/05/20/ai-unicorn-builderai-confirms-insolvency-proceedings/?ref=entrepreneurplus.co.uk) 6. [india.entrepreneur.com](https://india.entrepreneur.com/en-in/news-and-trends/builderai-raises-250-million-in-series-d-funding/452689?ref=entrepreneurplus.co.uk) 7. [techmarketview.com](https://www.techmarketview.com/ukhotviews/archive/2025/05/21/builderai-starts-insolvency-proceedings?ref=entrepreneurplus.co.uk) ✓ Verified by EP+ Every Graveyard entry is checked against Companies House and the sources above, and re-checked periodically. Spotted an error or a company that has been rescued? [Tell us](mailto:info@entrepreneurplus.co.uk?subject=Graveyard%20correction%3A%20Builder.ai). [← The Graveyard](https://entrepreneurplus.co.uk/graveyard/)