Former Infosys chief has a new startup that wants to challenge the IT services world
Key takeaways
- For decades, IT services firms made billions of dollars by allowing companies to outsource tech tasks like customizing, integrating, and maintaining enterprise software.
- His new startup, Hang Ten Systems, has raised a $32 million seed round led by Mayfield, it said Wednesday, with a strategic investment from Aramco Ventures and participation from angel investors.
- Hang Ten enters a market where IT services firms, including Infosys, are racing to adapt to AI through partnerships with companies like Anthropic and OpenAI.
Why this matters: a development in AI with implications for how people work, create, and decide.
For decades, IT services firms made billions of dollars by allowing companies to outsource tech tasks like customizing, integrating, and maintaining enterprise software. Vishal Sikka, former CEO of Infosys, one of the largest such firms in India, is now betting that AI can do much of that work instead.
His new startup, Hang Ten Systems, has raised a $32 million seed round led by Mayfield, it said Wednesday, with a strategic investment from Aramco Ventures and participation from angel investors. The startup, whose board includes Yahoo co-founder Jerry Yang, said it helps enterprises continuously build, modify, and operate software using AI-driven development and automation.
Hang Ten enters a market where IT services firms, including Infosys, are racing to adapt to AI through partnerships with companies like Anthropic and OpenAI.