Sequoia And Qualcomm Invest In Mobile App Company Called Dexetra

Sequoia Capital (India) and Qualcomm Ventures have invested more than US$ 1 Million in mobile application company Dexetra. The exact fund value is not being shared as the company anticipates one more funding company to partake in this Series A round which could take the corpus closer to US$ 2 Million. The funding will help the company expand the workforce. Founded in 2010, Dexetra managed to raise US$ 200,000 from One97 Communications a year later.

Dexetra currently has just one flagship product creatively called IRIS. The name itself is an anagram to Apple’s SIRI. The nomenclature is attributed to the fact that Dexetra’s application works exclusively for the Android platform & behaves identically on phones which are available at the fraction of the cost of an iPhone.

What’s the company’s niche?

IRIS is basically a platform. However, what’s most interesting is its mass-adoption by Indian smartphone maker Micromax. Using IRIS, Micromax has been able to replicate SIRI like interactivity which it famously calls ‘AISHA’ on its inexpensive smartphones. ‘Artificial Intelligence Speech Handset Assistant’ or AISHA has been touted as first-of-its-kind AI based assistant to be offered on such affordable hardware.

Though there a few glitches in accurately deciphering inputs & takes a little longer to train the system to accurately recognize audio clues, AISHA has managed to capture the attention of the youth who crave the novelty within their budget handsets. So far IRIS is being touted to have offered over 250 million answers. Meanwhile Dexetra also has another app called ‘Friday’ which keeps track of the users’ activities on the smartphone, logs them and saves the data on the cloud. According to the company this app has managed to garner the support of over 1 Lakh users who have 130+ Million files stored in Firday’s virtual repository.

App development companies are gaining prominence & have a much better scope of being rewarded financially for their efforts. Let’s see how well this company does.

Image Courtesy |  mantra4money

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