Hacker News Reader

lots of red flags - the founders are supposed have exited nivio (the 'first cloud computing company') at $100m - but the company seems to have disappeared.

View on HN

They claim to have raised $21m (from Videocon and AEC partners) in Feb 2012, but by the end of year the founder(s) claim to have stepped down with $100m payout (according to engineer.ai) while the company carried on and died in 2014.

I'm not an expert in this, but one of the founders is nephew to Indian billionaire Venugopal Dhoot (chairman of Videocon); according to Wikipedia and news sources he's wanted by the police since April 2018 for irregular loans between his companies accounting for hundreds of millions.

Videocon filed for bankrupcy procedures in June 2018. That connection is very sketchy.

Beyond Saurabh’s family connection, Engineer.ai has no relationship financial or otherwise with Videocon or Venugopal Dhoot.

- Disclaimer, I'm a VP E at Engineer.ai

I was referring to your founders previous company, not to Engineer.ai, didn't mean to imply there was a connection in the new company.

Our founder, Sachin, exited Nivio at a valuation of $100m, and used some of the proceeds to bootstrap Engineer.ai.

From my understanding, Nivio was merged into one of the investor's companies.

- Disclaimer, I'm a VP E at Engineer.ai

Reply on news.ycombinator.com