BlockBeats News, July 15th - Indian AI programming startup Emergent has completed a $130 million Series C funding round, reaching a post-money valuation of $1.5 billion, a significant increase from the $300 million valuation during its Series B funding in January this year. The round was led by Creaegis, with participation from Khosla Ventures, SoftBank Vision Fund 2, Lightspeed, Y Combinator, among others, bringing the total funding raised by the company to $230 million.

Emergent primarily targets entrepreneurs and small to medium-sized enterprises, offering an integrated AI development platform covering programming, deployment, hosting, testing, and debugging. The company has stated that its annual recurring revenue has reached $120 million, with over 200,000 paying customers. This funding will be used mainly to advance product development, enhance AI agent workflow capabilities, and expand market outreach, including considering establishing an office in Europe.