Ex-Infosys CEO Vishal Sikka’s startup Hang Ten Systems raises $53 million

Enterprise AI startup Hang Ten Systems, founded by former Infosys chief executive Vishal Sikka, has raised $53 million in funding led by Xora Innovation, a fund backed by Singapore state investor Temasek, taking its total funding to $85 million, according to a company statement.

Existing investors Mayfield and Aramco Ventures also participated in the round, the company said on September 16. The latest fundraise comes about five weeks after Hang Ten announced a $32 million seed round led by Mayfield.

Hang Ten is building 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, but did not disclose customer numbers or the value of individual contracts. Its customers include Saudi Aramco and Siemens Gamesa Renewable Energy.

Hang Ten plans to use the new capital to expand its engineering and consulting teams, increase capacity for customer projects and develop its AI platform.

Sikka, 59, was 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, where he served as its 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.

The funding for Hang Ten Systems comes as traditional IT services companies and newer AI startups compete to capture 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 attempting to automate parts of the software development and enterprise technology stack.

“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,” said Phil Inagaki, managing partner and chief investment officer at Xora.

“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," he added.