KeyPoint Technologies, a UK-based mobile interface technology solutions firm, has revived its fund-raising plans. It is going to raise £10 million by December for market and sales expansion.
“We are in advanced talks with venture capital funds. We are confident of closing the deal by the year end,” Sumit Goswami, Chief Executive Officer of KeyPoint Technologies, told BusinessLine .
The firm had planned to raise about £5-7 million last year to fund its global expansion but later shelved the plan. “We have revived the fund- raising plan now. We are going to use the proceeds on marketing, sales and operations,” Sumit said.
The firm, which employs about 125 people, including 110 in its Hyderabad centre, has recently made its keyboard offering a free service. With over one million downloads on Android, the Adaptxt app used to be paid app till recently for individual users.
But the firm seems to have changed its strategy now. It wants more people to use its keyboards and expanded service called Xploree. KeyPoint has just expanded the scope of its keyboard services by launching Xploree, a mobile search and “discovery” platform.
Search and discover“What it does is, it connects the user with brands and products in real time. You need not visit several apps to complete your purchase plans. As you key in words while chatting with friends and relatives on social media, we pop up relevant suggestions,” Sumit said.
Say, when you key in ‘dinner’ as you chat with a friend, you will be given some of the best dining choices around. Or, when you type ‘shopping’, you will be instantaneously given suggestions. “If you like the option, you can place an order for the product or service there. You need not move from one app to another searching for different things,” he said.
“We have tied up with several brands in food, retail and other verticals. We are in the process of adding more to provide more choices,” he said.