Delhi-based Cube26 Software, a gesture technology startup has raised over $7.7 Mn (INR 50 Cr.) in its seed round of funding led by Tiger Global and ecommerce marketplace Flipkart.
This announcement comes in a few days after the company had disclosed its fundraise from Tiger Global.
The startup will use 85% of the funding for technical upgradation and R&D, foray into new areas such as Iota, B2C products and more B2B tie-ups. Rest of the funds will go for team building.
Formerly known as PredictGaze, the company was founded by Saurav Kumar, Aakash Jain and Abhilekh Agarwal in 2012. Cube26 is into developing gesture control technology that allows mobile devices and TV to recognise users, interpret human gestures and understand their emotions. Its software helps manufacturers add special customisation options through gesture and voice-enabled features.
The startup provides services like presence detection, natural gesture recognition, gaze tracking, face body recognition, age/gender identification, emotion detection and gaming interaction software that makes the communication between users and devices natural and seamless.
Cube26’s clientele include smartphone makers such as Micromax, Flipkart, Lava, Freecharge, Panasonic, Intex and Karbonn Mobile India. The company has developed varied applications across usability for original equipment manufacturers (OEMs), helping them provide a stark differentiation through sophisticated mobile software.
The company is presently earning revenue of $154K (INR 1 Cr.) per month. As per the industry estimates, Cube26 is valued at $75 to $80 Mn.
Saurav Kumar, co-founder & CEO at cube26, said “We focused a lot on gesture earlier, but then we moved onto utility-based application, and that was when we realised that gesture is just one part of the equation. A lot of services are there, but integration of these services into products was missing and that is where we said that we’ll focus on this market.”
Cube26 has also announced its foray into IoT (Internet of Things), with the introduction of new iota category. On this, Saurav added, “We are delighted to launch the first-of-its kind iota category in India with the vision to provide unique device experiences to new age, connected Indian consumers. We plan to come out with innovative, accessible devices across different platforms powered by Cube26 software.”
With this category, the company plans to map the entire technology ecosystem encompassing utility software, devices, local ecosystem services and data analytics.
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