Hang Ten Systems, a startup led by former Infosys CEO Vishal Sikka, has launched with a $32 million seed round led by Mayfield. The company aims to help enterprises use artificial intelligence to run software at a lower cost.
For decades, IT services firms generated billions by outsourcing tech tasks like customizing and maintaining enterprise software. Hang Ten is targeting this massive legacy market, where AI could slash operational expenses.
The seed round, led by Mayfield, is notably large for an early-stage deal. Sikka's venture enters a space where established incumbents and AI-native rivals are competing to disrupt traditional outsourcing models.
The firm's focus on reducing software runtime costs could appeal to enterprises facing budget pressures. If successful, it may accelerate the shift from human-led IT services to AI-driven automation.
Sikka previously helmed Infosys, one of the very IT services giants Hang Ten now challenges. His track record lends credibility but also invites scrutiny of whether a former industry insider can truly upend the status quo.