ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/builder-ai” target=”_blank”>Builder.ai, the British artificial intelligence startup backed by Microsoft and the ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/qatar-investment-authority” target=”_blank”>Qatar Investment Authority (QIA), is filing for data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/definition/bankruptcy”>bankruptcy after a key lender seized most of its cash reserves, the company’s CEO said.
What triggered the bankruptcy?
ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/viola-credit” target=”_blank”>Viola Credit, which extended $50 million in debt to the company last year, withdrew $37 million from Builder.ai’s accounts, leaving it with just $5 million, chief executive Manpreet Ratia said in an interview on Tuesday, according to Bloomberg. Ratia did not specify the reason for the seizure.The…
