Key facts
- Hang Ten Systems, an AI startup founded by former Infosys CEO Vishal Sikka, has raised an additional $53 million in seed funding.
- The new funding round brings the startup's total seed funding to $85 million.
- The investment was led by Temasek's early-stage investment platform Xora, with participation from Mayfield and other investors.
- Hang Ten advises companies with over $10 billion in annual revenue on AI strategy and software modernization.
- The startup has secured multiple seven-figure contracts and is pursuing eight-figure deals with clients in the U.S., Europe, the Middle East, and Asia.
- Hang Ten plans to use the new capital to expand its engineering, consulting, and sales teams.
Hang Ten Systems, an artificial intelligence startup founded by former Infosys CEO Vishal Sikka, has secured an additional $53 million in seed funding, bringing its total raised to $85 million. This latest investment round closed just five weeks after the company initially raised $32 million. The funding was led by Temasek's early-stage investment platform Xora, with participation from Mayfield, Aramco Ventures, Intel CEO Lip-Bu Tan, Micron CEO Sanjay Mehrotra, and Yahoo co-founder Jerry Yang. Founded in May, Hang Ten aims to reshape how large companies build and maintain software by advising them on AI strategy and assisting in software modernization. Sikka stated that AI is shifting software development from coding to defining requirements and validation. The startup has already secured multimillion-dollar contracts, with some enterprise deals moving exceptionally quickly. Hang Ten is currently working with 21 major enterprises across the U.S., Europe, the Middle East, and Asia, including Fresenius Kabi, Saudi Aramco, and Siemens Energy, and is pursuing eight-figure deals. The fresh capital will be used to expand Hang Ten's engineering, consulting, and sales teams. The company currently has 20 to 25 employees and plans to hire in Europe and India. Hang Ten differentiates itself by adapting AI to complex enterprise software processes, rather than building new AI models, utilizing an in-house framework called Hobie. The startup claims its approach can deliver a 10-fold improvement in cost or speed for customers.