Woofun AI reports that Indian AI programming startup Emergent has finalized a $130 million Series C funding round, establishing a post-money valuation of approximately $1.5 billion. This represents a fivefold increase from the $300 million valuation recorded in January of this year.

The round was led by private equity firm Creaegis, with participation from MNI Ventures-Claypond, Sentinel Global, Khosla Ventures, SoftBank Vision Fund II, Lightspeed, and Y Combinator, bringing total capital raised to $230 million. Emergent provides an "engineering team as a service" platform for SMEs and entrepreneurs, reporting annual revenue of roughly $120 million, 70% growth over the past four months, and over 200,000 paying users across logistics, manufacturing, construction, and property management.