Indian tech tycoon bets $30M of his own money to build AI alternative to Microsoft Office

Bhavin Turakhia, a prominent figure in the Indian tech industry, is investing a personal sum of $30 million to establish a new enterprise AI company named Neo. His ambitious project is founded on the belief that existing workplace software, developed prior to the advent of AI, requires a complete redesign instead of mere upgrades with chatbots. At 46, Turakhia has a proven track record of launching successful tech ventures over the past twenty years, including companies like Directi, Radix, Titan, and the banking software firm Zeta, often financing them with his own resources before seeking external investors. With Neo, he is following a similar path, emphasizing the importance of a fresh approach to workplace software in light of significant technological advancements. "To create a product like the iPhone, you can't simply rework older technology like a Nokia; you need a fresh build," Turakhia shared with TechCrunch. Neo, which was internally launched in April, is envisioned as an all-encompassing enterprise platform that merges project management, document creation, file storage, and AI capabilities into one cohesive solution. Turakhia aims to position AI as an integral component of daily operations, rather than a mere auxiliary tool. He pointed out that many established companies struggle when integrating AI into their legacy systems, which were not originally designed for such capabilities. Neo, however, is built from the ground up with AI in mind and is designed to be model-agnostic, allowing businesses to utilize various AI models instead of being locked into one provider. Turakhia's vision aligns with a growing trend in the tech industry, as investor Chamath Palihapitiya recently launched his own enterprise AI coding venture, 8090, backed by his funds before raising a substantial $135 million. However, Turakhia's initiative enters a highly competitive landscape, with major players like Microsoft, Google, and Salesforce aggressively integrating AI into their offerings. Additionally, startups from leading labs such as Anthropic and OpenAI to productivity-focused firms like Notion and Superhuman are racing to transform how businesses incorporate AI into their workflows. Despite the competition, Turakhia remains optimistic, arguing that the enterprise software market has never favored a single dominant player. He believes that even capturing a small percentage of the global enterprise AI spending could lead to substantial success. "A mere 2% to 5% market share would surpass anything I’ve previously built," he remarked. Currently, Neo is being tested within Turakhia’s companies, including Zeta, with plans to launch the software to mid-sized businesses soon, targeting sectors such as technology, consulting, and professional services. The initial version of Neo was developed in a remarkable three months, utilizing AI throughout the process, which Turakhia estimates would have taken over a year with a larger team prior to the rise of generative AI. The Bengaluru-based startup currently employs around 45 staff members, including 18 engineers, and anticipates expanding to about 100 employees by year-end, with a focus on AI and software engineering.