Hang Ten Systems, an enterprise AI startup founded by former Infosys CEO Vishal Sikka, has raised $53 million in funding in a round led by Xora Innovation, a fund backed by Singapore state investor Temasek. The latest funding takes the startup’s total funding to $85 million, according to a company statement.
Existing investors Mayfield and Aramco Ventures also participated in the latest funding round, the company said on September 16. The new investment comes about five weeks after Hang Ten Systems announced a $32 million seed round led by Mayfield.
Hang Ten Systems is developing AI software for large enterprises, with a focus on software development and other technology-intensive work. Its platform uses AI agents to automate parts of enterprise software projects, including development, migration, finance and analytics.
The company said it has signed several multi-million-dollar contracts with global enterprises since its launch. However, it has not disclosed the number of customers or the value of individual contracts. Its customers include Saudi Aramco and Siemens Gamesa Renewable Energy.
Hang Ten Systems plans to use the newly raised capital to expand its engineering and consulting teams, increase its capacity for customer projects and continue developing its AI platform.
The funding comes as traditional IT services companies and newer AI startups compete for enterprise spending on generative AI and AI agents. Large technology services firms such as Infosys, TCS and Wipro have been investing in AI-led services, while startups are working to automate parts of software development and the wider enterprise technology stack.
Vishal Sikka, 59, served as CEO and managing director of Infosys from August 2014 to August 2017. He was the first outsider to lead the Bengaluru-based IT services company.
Before joining Infosys, Sikka spent about 12 years at German software major SAP. During his time at SAP, he served as the company’s first chief technology officer and later joined its executive board.
After leaving Infosys, Sikka founded VianAI, an enterprise AI company, before starting Hang Ten Systems.
Commenting on the funding and the role of enterprise technology, Phil Inagaki, managing partner and chief investment officer at Xora, said, “Enterprise technology has long been one of the largest cost lines in essential industries — slow to change, and slower still to translate AI into real economic value,”
Inagaki added, “The bottleneck is implementation: deploying it securely, economically and at speed. That takes a different kind of services partner. Hang Ten’s team has built and operated these systems from the inside, and its model is delivering value faster with smaller teams, with early results already holding up in production,”
The latest funding follows Hang Ten Systems’ $32 million seed round announced about five weeks earlier. With the additional $53 million, the company’s total funding has reached $85 million.
Hang Ten Systems is focused on applying AI agents to enterprise technology projects, including software development, migration, finance and analytics. The company will use the new capital to strengthen its engineering and consulting teams, support more customer projects and continue developing its AI platform.
