Sachin Dev Duggal, founder of Builder.ai, one of the UK’s best-funded technology start-ups and a Microsoft-backed tech unicorn, invited hundreds of employees from his company to a five-star hotel in the centre of Ho Chi Minh City, and were treated to performances by local dancers and DJs. Duggal, at time took to a stage to interview figures like former Apple executive Tony Fadel and Serena Williams’s former tennis coach Patrick Mouratoglon.

Builder.ai has been valued at just over $1bn following a new $250mn investment round led by Qatar’s sovereign wealth fund QIA had joined investors including Microsoft, SoftBank and Insight Partners, who had backed the start-up’s promise to use artificial intelligence to automate aspects of the labour-intensive and expensive task of building new apps. Builder.ai who claims to turn your app idea into a working prototype in days, then share it with internal teams and investors. As the Chief Wizard at Builder, Sachin lead a team of innovators and creators who are building a new way to create tailor-made software that requires only an idea and no technical expertise. 

The launch of OpenAI’s ChatGPT  couple of months earlier signalled a generative AI frenzy which Builder.ai appeared to benefit from the rise of cutting-edge technology.

However, Indian authorities had named him and his former business partner Saurabh Dhoot in relation to high-profile criminal probes over past business dealings unrelated to Builder.ai. Duggal the start-up’s chief wizard has enjoyed unique success as the company managed to secure $450mn  in backing for his vision, intellect and ability to build an impressive network of contacts, including Will.i.am and Anshu Jain, late Deutsche Bank CEO.

Duggal, as a teenager was successfully impressed bankers to clinch an internship at Deutsche Bank, with his grasp of technology and financial markets winning backers for his cloud computing venture Nivio, which was selected as a 2009 technology pioneer at the World Economic Forum in Davos. Nivio also secured a $3.8mn loan from Videocon – the Indian electronics group that was run by the family of Surabh Dhoot. As Nivio was losing money, caught the attention of US telecommunications tycoon Al Cinelli and invested $13mn.  Later Cinelli accused Duggal of having donated $49, 500 of money from Nivio’s parent company to star-studded New York gala raising money for the charity of pop star Alicia Keys, without securing the correct permission, Duggal later reimbursed the company. When Cinnelli confronted Duggal over other disputed payment and Duggal stepped down as Nivio’s chief saying he resigned under duress. Nivio’s parent company filed a criminal complaint in Switzerland over several credit card expenses and transfers worth half a million Swiss francs that it alleged Duggal made from the business to his personal account without correct permission. Nivio’s parent company was dissolved in 2015, as the Swiss public prosecutor dismissed the company’s complaint, stating there was insufficient evidence and ordered the state to pay Duggal’s legal costs.

But Videocon’s transactions with Nivio’s India entity, that in 2022 led the Indian authorities to summons Duggal as a witness in a wider money laundering probe into Videocon, and as Duggal did not appear, the investigators obtained a warrant against him. Duggal denies any wrongdoing and is appealing against the warrant.