cube26, a Delhi based mobile technology Startup has raised Rs 50 Cr($7.7M) in Seed funding led by Tiger Global and ecommerce giant Flipkart. In the last few years, Flipkart has invested in many Startups, both related to its domain and in some cases, in companies having no overlap. Signalling the company’s desire and attempt to remain competitive in the technology market.
cube26 gesture control technology enables a user to communicate with a mobile device or TV through gestures. Face body recognition, presence detection, age detection and emotion detection are some of the services provided by this Startup. These services are used by various companies in a customized format for their end users.
cube26, which has worked on utility based applications, has a diverse clientele portfolio. Companies like Micromax, Panasonic, Flipkart and Freecharge are some of its well known clients. They have worked with some mobile companies in order to enable them to provide customized Operating Systems to their clients. They are also planning to launch smart bulbs in November, a step in the direction of providing affordable connected devices to the users.Some of their popular gesture technologies include “Blink to Capture for Panasonic” and “Look Away to Pause” for Panasonic and Micromax.
They have also ventured into technology which relates to Internet of Things (IoT). IOT is the network of physical objects or “things” embedded with electronics, software, sensors, and network connectivity allowing these “things” to collect and share data among themselves. They have also launched first of its kind Iota category in India in order to provide unique experience to the connected users.
The company was founded in the year 2012 by Saurav Kumar, Aakash Jain and Abhilekh Agarwal. Currently, the revenue of this company is Rs 1Cr per month and with the recent investment coming in, one can expect the business volume of this company to scale up.
According to Gartner, IOT vendors will earn more than $310 billion by 2020. It also estimated that by 2020, IOT will comprise around 26 billion devices. India being such a big market place, it is but obvious that top investors are seeing investment in IOT as the next gen investment.