Keypoint Technologies looks to raise funds

Keypoint Technologies
Nutan Chokka Reddy, CEO, Keypoint Technologies

Hyderabad: Keypoint Technologies, which is into predictive keyboard application and technologies in this space, is planning to go global with its new product offering Xploree. In addition, the company plans to raise $10 million by end of 2018 and is in talks with venture capitalist for the same.

Started in Glasgow in 2004, the company has its research and development centre in Hyderabad wherein Xploree was conceptualised and developed. Xploree is a keyboard application that predicts users’ needs as and when they are typing and provide them with suitable information that they can look up. The idea of the product was to identify the intent behind the conversation the user is having and suggest relevant content from different platforms.

Speaking about the product and the plans ahead, Nutan Chokka Reddy, CEO, Keypoint Technologies said, “We have collaboration with almost 50 plus platforms from different sectors for the Xploree app ranging from BookMyShow to Zomato. We have seven million monthly active user base and this is just with our operations in India. We plan to go global by early 2019 and for this we are looking for a funding of $10 million from VCs.”

Xploree supports 150 plus languages through its app that is available for download for consumers and also comes pre-installed in many smartphones. The company has partnered with 10-12 OEMs like Lava and others for the pre-installation of the app. One of the most unique feature of the product is that it not only supports 11 major Indian languages but is also multi-lingual and trans-literature. For example, if a user is typing telugu conversation in English script it can identify the meaning of the word and offer relevant content. It has a combination of native and English language option.

In the next one year or so, the company plans to get into markets like Indonesia, China, and the United States with Spanish language. It has already released a demo on Chinese keyboard to the local Chinese smartphone makers before making it officially available. “We have filed for a patent for our technology in 2013-14 and are awaiting the final clearance which should happen soon,” Reddy said. In terms of revenue and investment, Keypoint had a turnover of $5-6 million per year and is funded by Prasad Aditya Group that supports 35 companies as part of the group investment.

Apart from keyboard technology, Keypoint is also closely associated with the Telangana Tourism to develop a chatbot for its website. These chatbots will communicate with tourists and help them in finding the right destination as per their choice. Going ahead, it is also planning to get into voice search space and is planning to build an engine of its own for this purpose.

The Artificial Intelligence conversational commerce – that the company currently operates in – is slated to be $40 billion economy in the next couple of years.