AI Platform Emergent Raises $130 Million, Joins Unicorn Club

AI software creation platform Emergent has raised $130 million in its Series C funding round, achieving a valuation of $1.5 billion. With this funding, Emergent becomes India's sixth unicorn of 2026 and the third homegrown AI startup to reach this milestone.

The funding round was led by Creaegis, with MNI Ventures – Claypond Capital and Sentinel Global as co-lead investors. Khosla Ventures, SoftBank Vision Fund 2, Lightspeed, and Y Combinator also participated. Emergent has now raised a total of $230 million.

Founded in 2024 by Dunzo co-founder Mukund Jha, Emergent enables entrepreneurs and small businesses to build production-ready web and mobile applications using autonomous AI agents. Jha stated that over 12 million apps have been created on its platform by users across 190 countries, with nearly 70% of its users having no prior coding experience.

The new funds will be deployed for hiring, open-source AI research, and global expansion. Emergent has also reported significant growth, with both revenue and paying users quadrupling since its previous funding round. The company's annualized revenue run rate is approximately $120 million.

This funding comes amid a sharp surge in AI investments in India. AI startups raised $676 million across 57 deals in the first half of 2026, more than four times the amount raised during the same period last year.