Microsoft-Backed Startup Builder.ai Hires Auditors to Investigate Inflated Sales

Builder.ai lowered the sales figures it provided to investors and hired auditors to examine its last two years of accounts, a major setback for the artificial intelligence startup backed by Microsoft Corp. and the Qatar Investment Authority.

The London-based company, which has raised more than $450 million, dropped its revenue estimates for the second half of 2024 by about 25% after some sales channels “did not come through,” according to Manpreet Ratia, the recently appointed chief executive.