Builder.ai, the British no-code AI startup once celebrated for its strategic partnership with Microsoft (NASDAQ:MSFT) and a $250 million raise led by the Qatar Investment Authority, announced Tuesday that it is filing for bankruptcy protection.
According to Bloomberg, the dramatic fall comes after a major lender, Viola Credit, seized $37 million from the company’s accounts, leaving just $5 million in restricted funds, effectively paralyzing operations across five countries.
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