Rocket is in talks to raise $40 million to $50 million in a new funding round that could value the Surat-based AI app-building startup at about $500 million. The company, which was earlier known as DhiWise, is attracting investor interest because it lets users build apps from plain-language prompts.
According to the report, 360 ONE Asset is expected to lead the round with a possible investment of $20 million to $25 million, while other investors may also join in. If the deal closes at these terms, Rocket’s valuation would rise sharply from around $60 million less than a year ago, when it raised $15 million from Salesforce Ventures, Accel, and Together Fund.
Founded in 2021 by Vishal Virani, Deepak Dhanak, and Rahul Shingala, Rocket has moved from developer workflow automation into a broader AI app-building platform. The fresh capital is expected to help the startup improve its AI features, speed up product development, and expand its global sales reach.
The funding talks also show how strongly investors are backing AI coding and app-building startups. These tools are gaining attention because they can reduce development time and make software creation easier for more users.
FAQs [Frequently Asked Questions]
1. What is Rocket?
Rocket is a Surat-based AI startup that helps users build applications from plain-language prompts. It was earlier known as DhiWise.
2. How much money is Rocket trying to raise?
Rocket is in talks to raise between $40 million and $50 million in the latest funding round. The round may value the company at about $500 million.
3. Who may lead the round?
360 ONE Asset is expected to lead the funding round and may invest $20 million to $25 million. Other investors are also likely to participate.