The collapse of Builder.ai exposes the growing threat of “FOMO investing,” according to an expert in tech growth intelligence.
Builder had become one of Britain’s best-funded startups, but is now filing for bankruptcy due to financial problems.
The insolvency comes after enormous sums were invested into the business. Big-name backers including Microsoft and Qatar’s sovereign wealth fund had poured a total of over $500mn into the startup, which aimed to simplify software development with AI.
The funding gave Builder a coveted unicorn status, with a valuation exceeding $1.3bn. But the eye-watering sums couldn’t keep the business afloat.
Builder blamed the downfall on “historic challenges and past…
