UK-based Keypoint Technologies is looking to raise funds of about $20 million.
The company, which makes linguistic software for mobile devices is in talks with investors to fuel its next round of growth plans. “We are talking to Venture Capital firms and institutional investors based out of India, United States and United Kingdom for our funding requirements,” said Sumit Goswami, CEO of Keypoint.
Privately owned, Keypoint is headquartered in Glasgow, Scotland and has a sizeable number of workforce based out of Hyderabad. Further, the company has presence in California, Shanghai and Tokyo. The company believes that the funds will be used to develop software that can predict words on a smartphone or tablet in more languages.
Currently, the company has developed this predictive software for 120 languages, according to Goswami. With a growing focus on linguistic development and greater localisation, KeyPoint Technologies is looking to create technologies which take word prediction to the next level and return suggestions to users based on their local tastes and attributes for which the new round of funding would be handy, according to company sources.
The software has been downloaded 1.6 million times on Google Play store, 150,000 times on iOS and is present in around 100 million devices. The company sees growth potential in India, from where it gets 10 per cent of its current revenues. “In the next year, we want to double this,” said Goswami.