- Hang Ten Systems, an AI startup founded in May this year by former Infosys CEO Vishal Sikka, has raised another $53 million in seed funding.
- With the latest investment, its total funding has reached $85 million, just four months after it was founded.
- The latest round was led by Xora, an early-stage investment platform backed by Temasek, with participation from Mayfield.
- The two funding rounds were closed just five weeks apart.
- Sikka revealed that the company signed a multimillion-dollar contract with one customer within 25 days of its first meeting.
- Hang Ten is now working with, or in discussions with, 21 major enterprises across the US, Europe, the Middle East, and Asia.
- Hang Ten provides advisory, transformation, and applied-AI services to large enterprises, aiming to reduce the cost and time required for enterprise software implementation.
- The fresh funding will help the company expand its engineering, consulting, and sales teams, while developing its AI platform and tools.
- Hang Ten is already working with Saudi Aramco and Siemens Gamesa Renewable Energy on various applications across several business functions.
Hang Ten Systems, founded by former Infosys CEO Vishal Sikka in May 2023, has raised an additional $53 million in seed funding, bringing its total to $85 million within just four months. The latest round was led by Xora, a Temasek-backed investment platform, with participation from Mayfield, Aramco Ventures, and notable tech leaders like Intel CEO Lip-Bu Tan and Yahoo co-founder Jerry Yang.123
The rapid fundraising success is complemented by Hang Ten's swift contract acquisition, having signed a multimillion-dollar deal within 25 days of its first customer meeting. The company is currently engaged with 21 major enterprises across the US, Europe, the Middle East, and Asia, showcasing its growing influence in the AI services sector.56
Sikka emphasized the efficiency of their model, stating, “The build part itself has basically become close to zero marginal cost, close to zero time.” Co-founder Sanjay Rajagopalan noted that small teams can now handle projects that previously required larger groups, indicating a significant shift in operational dynamics.
The new funding will enhance Hang Ten's delivery capacity, expand its engineering and consulting teams, and further develop its platform and library of AI-enabled skills. As Phil Inagaki from Xora pointed out, the challenge for enterprises lies in not just adopting AI but implementing it securely and economically at scale. Hang Ten is already collaborating with Saudi Aramco and Siemens Gamesa Renewable Energy on various applications, marking its entry into essential industries.9
“The two seed rounds closed just five weeks apart, with Hang Ten signing a multimillion-dollar contract within 25 days of a first meeting. The company is now working with or in discussions with 21 major enterprises across the US, Europe, the Middle East and Asia.”
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