Hang Ten Systems adds $53 million to seed funding round

In short: Hang Ten Systems, a new AI startup founded by former Infosys CEO Vishal Sikka, raised another $53 million just weeks after an earlier seed raise.

What happened

Hang Ten Systems said it has added $53 million more to its seed funding, which is early money used to get a young company off the ground. The company was founded about four months ago and is based in Palo Alto, California.

The new funding was led by Xora, an early-stage investment group backed by Temasek. Mayfield, which led Hang Ten’s earlier seed funding, also joined this round. Other backers named in the report include Aramco Ventures, Intel CEO Lip-Bu Tan, Micron CEO Sanjay Mehrotra, and Yahoo co-founder Jerry Yang, who also sits on the company’s board.

Hang Ten said the new money brings its total funding to $85 million. The company did not share its valuation, which is the price investors are placing on the business.

Hang Ten sells services to very large companies, typically those with more than $10 billion in yearly revenue. It advises them on how to use AI and also helps build and update software. The startup says it has already signed multiple seven-figure contracts, meaning deals worth at least $1 million each, and it is pursuing larger ones.

With the extra funding, Hang Ten plans to hire more people across engineering, consulting, and sales. It currently has about 20 to 25 employees across the U.S., the Middle East, and Australia, and expects to hire in Europe and India.

Why it matters

Big companies spend a lot on software and on outside firms that help build it. If Hang Ten’s approach lets small teams deliver working software faster (like using power tools instead of hand tools), it could change how quickly large organizations update the systems they rely on.

Source: TechCrunch AI