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Rocketnew Secures Historic 15Mn Funding From Top Players As It Gears Up To Redefine Coding Landscape
Indian Vibe Coding Startup Rocket.new Raises $15 Mn from Salesforce Ventures, Accel in Historic Funding Round
Rocket.new, a Surat-based startup, has secured $15 million in seed funding led by Salesforce Ventures, with Accel and Together Fund also participating. This development highlights the growing potential of AI-powered coding platforms and marks a significant milestone for the company.
The platform, dubbed “vibe-coding,” allows users to generate production-ready applications from simple text prompts, bypassing traditional coding methodologies that often require extensive knowledge of programming languages. With over 400,000 users across 180 countries, including 10,000 paying customers, and $4.5 million in annual recurring revenue, Rocket.new boasts an impressive user base.
According to industry sources, the company is targeting a significant milestone of $20-25 million in annual recurring revenue by the end of this year, with ambitious plans to reach $60-70 million by mid-2026. This trajectory suggests that Rocket.new is poised for rapid growth, driven by its innovative approach to coding and the increasing demand for AI-powered development tools.
Founded by Vishal Virani, Rahul Shingala, and Deepak Dhanak, former founders of developer workflow startup DhiWise, Rocket.new’s mission is to bridge the gap between idea generation and application development. The trio describes their platform as a “vibe-coding” ecosystem that not only generates prototypes but also handles aspects of product management, product research, and even identifies potential product opportunities.
Despite its relatively short beta launch period, which commenced in June, Rocket.new has already seen remarkable adoption from a diverse range of users, including engineers, solopreneurs, and product managers. Major companies like Meta, PayPal, PwC, and Times Internet have all been among the platform’s early adopters. A staggering 80 percent of applications built on the platform are described as “serious” use cases, encompassing e-commerce, fintech, B2B tools, and other critical applications.
The secret to Rocket.new’s success lies in its proprietary AI-powered system, which integrates models from OpenAI, Anthropic, and Google’s Gemini with its own extensive training data. Unlike faster competitors that often rely on brute-force algorithms, generating the first app on the platform takes about 25 minutes, but delivers comprehensive outputs. This approach not only streamlines the development process but also ensures that users receive high-quality applications that meet their specific needs.
Rocket.new generates revenue primarily through a subscription model starting at $25 per month. The startup boasts gross margins of 50-55 percent, indicating its ability to balance revenue growth with operational efficiency.
Salesforce Ventures’ lead investment in Rocket.new underscores the growing recognition of AI-powered coding platforms as a key driver of innovation and productivity in software development. As companies increasingly rely on AI-driven tools to accelerate their product development cycles, startups like Rocket.new are well-positioned to capitalize on this trend.
“Rocket.new is a game-changer in the world of developer tools,” said a representative from Salesforce Ventures. “Its innovative approach to coding and AI-powered platform have the potential to transform the way we build applications, making it an attractive investment opportunity for our team.”
The development comes at a time when the global coding market is expected to reach $64.2 billion by 2027, growing at a compound annual growth rate (CAGR) of 9.1% during the forecast period. As AI-powered coding platforms continue to gain traction, startups like Rocket.new are poised to play a significant role in shaping this rapidly evolving landscape.
With its impressive user base, robust revenue growth trajectory, and innovative approach to coding, Rocket.new is certainly a startup to watch in the coming years. Its commitment to delivering high-quality applications that meet the specific needs of users, coupled with its focus on operational efficiency, positions it for success in a market that is increasingly driven by AI-powered innovation.
The $15 million seed funding from leading venture capital firms positions Rocket.new to take its platform to the next level, empowering developers and businesses alike with the power of AI-driven coding. As the coding landscape continues to evolve, startups like Rocket.new are well-positioned to capitalize on this trend, solidifying their position as key players in the rapidly growing market.