When No-Code Became No-Truth

The Rise and Fall of Builder.ai

Abstract

The collapse of Builder.ai, a London-based startup once heralded as a $1.5 billion pioneer in no-code software development, serves as a stark reminder of the perils of unchecked ambition in the tech industry. Founded in 2016 by Sachin Dev Duggal, the company promised to revolutionize app creation with an AI-driven platform that allowed users to build software “as easily as ordering pizza” using an AI assistant named Natasha. Backed by heavyweight investors like Microsoft and the Qatar Investment Authority, Builder.ai raised over $445 million and positioned itself as a leader in the AI boom. Yet, by May 2025, the company had filed for bankruptcy, its operations crippled by creditor seizures, allegations of fraud, and the revelation that its much-touted AI was largely powered by human engineers