Indian entrepreneur Bhavin Turakhia is placing a personal wager of $30 million, believing there is still potential for another enterprise AI firm. His latest endeavor, Neo, is founded on a straightforward concept: workplace software that predates the AI era needs to be completely reimagined, rather than just updated with chatbots.

At 46, Turakhia is well-versed in making bold enterprise tech investments. In the last twenty years, he has co-founded several companies, including Directi, Radix, Titan, and Zeta, primarily financing them with his own resources before attracting outside capital. He is taking a similar approach with Neo.

Turakhia shared with TechCrunch that he is self-funding this significant amount because he asserts that AI represents a technological transition substantial enough to warrant a complete overhaul of workplace software.

“To create an iPhone, you can’t just take parts from a Nokia and convert it into an iPhone,” he explained.

Launched internally in April this year, Neo is an enterprise platform that integrates project management, documents, file storage, and AI into a cohesive product. Turakhia stated that the goal is to make AI a proactive element in daily tasks, rather than just an auxiliary tool for employees.

Turakhia noted that many existing players encounter inherent challenges when incorporating AI into products that were crafted prior to generative AI. Neo, he stated, was engineered from the outset for AI and is model-agnostic, enabling companies to switch between AI models without being confined to a single supplier.

He is not the only one with this perspective. Investor Chamath Palihapitiya initially kicked off an enterprise AI coding initiative called 8090 with his own funding before securing a $135 million investment round this week.

Nonetheless, Turakhia’s investment comes at a time when enterprise AI is emerging as one of the most fiercely competitive sectors in technology. Major players like Microsoft, Google, and Salesforce are integrating AI into their workplace applications. At the same time, every startup, from large labs like Anthropic and OpenAI to productivity companies like Notion and Superhuman, are racing to transform how organizations implement AI in their everyday processes.

Turakhia contended that enterprise software has never functioned as a winner-takes-all market, asserting that even a minor stake in global enterprise AI expenditures could signify a substantial company.

“If we manage to achieve 2% to 5% market share, that would be larger than anything I’ve developed to date,” he remarked.

For several months, Neo has been utilized internally across Turakhia’s enterprises, including Zeta. The company aims to start deploying the software to mid-sized businesses in the upcoming months, initially focusing on knowledge workers in technology, consulting, and professional services sectors.

Turakhia indicated that Neo’s initial platform was constructed in three months, with AI playing a significant role in the development, work that he estimates would have taken over a year with a much larger engineering crew before the advent of generative AI.

The Bengaluru-based startup currently has approximately 45 staff members, including 18 engineers. Turakhia informed TechCrunch that they anticipate expanding to around 100 employees by the year’s end, primarily hiring for AI and software engineering roles.