Hang Ten Systems, founded by former Infosys CEO Vishal Sikka, raised another $53 million.
The company closed this round just five weeks after its initial $32 million seed funding. Temasek's Xora platform led the new investment alongside Mayfield Ventures.
Hang Ten advises large companies on AI strategy and software modernization. The startup typically works with enterprises having over $10 billion in annual revenue. Sikka noted that AI reduces the marginal cost of building software to nearly zero.
One customer signed a multimillion-dollar contract within 25 days of their first meeting. The startup currently serves prospects across 21 major enterprises globally. Customers include Fresenius Kabi, Saudi Aramco, and Siemens Energy.
Hang Ten plans to expand its engineering, consulting, and sales teams. The Palo Alto-based firm has about 20 to 25 employees today. It expects to hire further staff in Europe and India soon.
The startup uses an in-house framework called Hobie for project work. Engineers utilize reusable AI skills tailored for regulated industries. Rajagopalan stated the team delivers production software rather than prototypes.
Hang Ten promises a ten-fold improvement in cost, speed, or both for clients. The company competes with traditional systems integrators and model developers alike.
