Cube26, an Indian technology innovation focused startup, has raised $7.7 million in seed funding from global investment firm Tiger Global Management and online retailer Flipkart.
Founded in 2012 as PredictGaze in California, the startup Cube26 makes gesture based technology and customizes the operating systems of OEMs like Micromax, Karbonn, Panasonic and Intex by allowing gesture, voice and camera-enabled features in their smartphones. The startup was bootstrapped till date with a team of 65 and is now planning to increase it to 500 by 2016 out of which 100 will be added in next months.
Saurav Kumar, CEO and co-founder of Cube26 said, “With our software focus and product-led monetization approach, we are confident of providing unique user experiences across form factors and devices to Indian consumers. We want to bridge technology gap in India and build products and solutions which are accessible and intuitive in nature.”
Around 85% of the fresh funds has been planned to be used for technical upgradation and R&D and remaining to add headcount. By technological upgradation, Cube26 means working on Internet of Things (IoT) that consists of design and prototypes and working with system partners who are building utility applications. “We also intend to develop software products and work on smarter devices in the IoT space,” added Kumar. The company also plans to a lab for R&D in Bangalore.
“We believe Cube26 has the potential to transform user experience across devices with its software expertise. Technology innovation will be key to India’s growth and we are looking for the next big software innovation from India and this investment is a step towards the same,” said Nishant Verman, head of corporate development, Flipkart.