Parallel Loop launches with a $6.6M seed to build enterprise AI around forward deployed engineers

Parallel Loop, an enterprise AI startup founded in June 2026 by former Qoala executives Prateek Jogani and Yujun Chean, announced a US$6.6 million seed round on October 14. Bengaluru-based 3one4 Capital led it, with Picus Capital, Flourish Ventures and Economic Development Innovations Singapore joining, along with angels including Paytm's Vijay Shekhar Sharma and CRED's Kunal Shah.

The company calls itself an "AI operating partner" for mid-market and large enterprises. One of its three offerings, the Software Factory, pairs forward deployed engineers with AI agents to modernise legacy systems and build new applications alongside client teams. According to e27, it already has about 30 staff across Singapore, Bengaluru, Bangkok, London and Dubai and more than 10 clients, including Licious, Havells and Tokio Marine Safety Insurance (Thailand).

For FDEs, this is another sign that the embedded-engineer model is spreading beyond US AI labs to services-heavy startups across Asia, Europe and the Middle East. It also shows the trade-off these companies face: the more a startup leans on expensive forward deployed engineers, the more it looks like a consultancy, so its reusable AI stack will decide whether it's valued as software or services.