Sachin Dev Duggal and Saurabh Dhoot, prominent figures within the UK-based company Builder.ai, have come under scrutiny in India due to their prior business involvements, as reported by The Financial Times. Builder.ai, a significant technology startup backed by global investors like Microsoft and SoftBank, faces allegations tied to Duggal’s suspected involvement in a money laundering case linked to the collapse of Videocon, while Dhoot is implicated in a loan fraud probe concerning the same entity.
Established in 2016 and initially known as Engineer.ai, Builder.ai aims to streamline app and website development using artificial intelligence, likening the process to ordering pizza. Despite the accusations, Builder.ai has garnered substantial financial support, including a $250 million investment led by Qatar’s sovereign wealth fund in 2023, reflecting growing interest in generative AI technologies.
The allegations stem from activities predating Builder.ai, with Duggal allegedly involved in money laundering transactions between 2008 and 2012, wherein funds from Videocon were purportedly transferred to a company he founded in India and subsequently moved to Videocon’s international entities. Dhoot, meanwhile, is accused of participating in a fraudulent loan scheme facilitated by his uncle, Venugopal Dhoot, involving misappropriated funds to various Videocon accounts.
Both Duggal and Dhoot, who previously co-founded Nivio before Builder.ai, deny any wrongdoing. Duggal’s legal representatives assert that his involvement in the alleged money laundering is a misunderstanding, highlighting his cooperation with authorities. Similarly, Dhoot’s legal team refutes the loan fraud allegations, emphasizing the early stage of the legal proceedings.
These developments cast a shadow on the leadership of Builder.ai, though the company clarifies that the investigations do not pertain to its operations. It is noted that Dhoot’s role within Builder.ai was primarily advisory, based on his friendship with Duggal, rather than as a founding member or executive. In response to inquiries, Builder.ai has adjusted public references to Dhoot’s association with the company.
