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Funding · AI & Deep Tech

Emergent raises $130 Mn Series C at $1.5 Bn valuation

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Date
Company
Emergent
What it does
AI software creation platform
Kind
Funding
Amount
$130 Mn
Stage
Series C
Based in
Bengaluru
Founded
2024
Sector
AI & Deep Tech

What they do

Emergent is an AI software creation platform that lets users build apps using autonomous AI agents

What happened

It raised a $130 Mn Series C round led by Creaegis, with co-leads MNI Ventures – Claypond Capital and Sentinel Global

Why it matters

The round makes Emergent India's 6th unicorn of 2026 and the 3rd homegrown AI unicorn, achieving the milestone within 2 years of incorporation

The details

  • Emergent raised a $130 Mn Series C funding round.
  • The round was led by Creaegis, with co-leads MNI Ventures – Claypond Capital and Sentinel Global.
  • Participating investors included Khosla Ventures, SoftBank Vision Fund 2, Lightspeed, and Y Combinator.
  • The round valued Emergent at $1.5 Bn, making it a unicorn (a startup valued at over $1 billion).
  • Emergent became India's 6th unicorn of 2026 and the 3rd homegrown AI unicorn (after Krutrim and Sarvam).
  • It is one of the fastest startups to reach unicorn status, achieving a $1 Bn valuation within 2 years of incorporation.

The bigger picture

  • In 2025, Indian AI startups raised about $500 Mn across 63 deals.
  • Between 2020 and 2025, Indian-origin AI startups raised over $1.8 Bn, with about 80% at the application layer (software that runs on top of other systems).

About the business

  • Emergent is an AI software creation platform that lets users build production-ready web and mobile apps using autonomous AI agents (AI programs that work independently).
  • Its target users are entrepreneurs, small businesses, and non-technical founders.
  • Over 12 million apps have been built on the platform.
  • Users are spread across 190 countries.
  • 70% of users have no prior coding experience.
  • The platform has an annualised revenue run rate (projected yearly revenue based on current monthly revenue) of about $120 Mn.
  • Revenue and paying users have grown 4 times since the previous round.
  • Revenue is split roughly one-third each from North America, Europe, and the rest of the world.
  • India contributes 6-7% of total revenue.
  • Enterprise customers (large businesses) contribute less than 5% of revenue.
  • Mobile app building generates 15-18% of revenue, up from about 5% the previous quarter.
  • The platform has evolved from 'prompt-to-app' (building an app from a text command) to 'prompt-to-operations' (automating business processes).
  • Its Wingman platform automates scheduling, lead generation, and business operations.
  • Largest use cases include commerce apps, marketplaces, business management software, and AI-native apps like chatbots and voice agents.
  • The platform uses models from Anthropic, OpenAI, Gemini, and open-source alternatives.
  • Revenue comes from subscription fees for app deployment and post-deployment services.
  • Users can choose the region for data hosting via localised data centres.

What happens next

  • Funds will be used for hiring, open-source AI research, and global expansion.
  • The company is scaling its San Francisco office (currently 8-member team) and evaluating Europe expansion.
  • It is scaling hiring in India.
  • Emergent is evaluating acquisitions of smaller startups or engineering teams in infrastructure, security, and reinforcement learning.
  • The round provides more than 18 months of operating runway.

The deal

Type
Series C

Investors

Founders

  • Mukund Jha, Founder
  • Madhav Jha, Co-founder

About Emergent

Product
AI coding startup
Customers
Entrepreneurs, SMBs, and non-technical founders building production-ready software
How it makes money
SaaS platform providing autonomous AI agents for application development and business operations
What sets it apart
Autonomous AI agents handle coding without human expertise; 12+ million apps built on platform; orchestration layer built in-house

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