Gesturestartup, Cube26 has raised over $7.7 million in seed round of funding led by Tiger Global and Flipkart.
According to industry estimates, the company is valued at $75-80 million. 85% of the raised capital shall be used for team building, developing its technology and R&D. Also, a section of the fund would be utilized in making an entry into new areas such as B2C products and developing more B2B tie-ups.
Interestingly, earlier in this month only, the startup announced an undisclosed investment from Tiger Global.
Founded by Saurav Kumar, Aakash Jain and Abhilekh Agarwal in 2012, Cube 26 is a company that makes gesture recognition technology for smart phone manufacturers and OEMs. It helps software manufacturers add customization options through gestures and voice-enabled features. The startup already assists Flipkart and other eCommerce companies in customer acquisition.
Gesture recognition technology is the mathematical interpretation of a human motion by a computing device. Gesture recognition, along with facial recognition, voice recognition, eye tracking and lip movement recognition are components of what developers refer to as a perceptual user interface (PUI). The goal of PUI is to enhance the efficiency and ease of use for the underlying logical design of a stored program, a design discipline known as usability.