NRI attracts funding from India, US
A Glasgow-based language software company KeyPoint Technologies, founded by Indian-origin Sanjay Patel, has raised 4 million pounds from India and the US for its next round of expansion.world Updated: Jul 31, 2008 13:45 IST
A Glasgow-based language software company KeyPoint Technologies, founded by an entrepreneur of Indian-origin Sanjay Patel, has raised four million pounds from India and the US for its next round of expansion.
KeyPoint Technologies (KPT) will use the funding to market its innovative multi-lingual predictive text software product.
Patel designed the prototype for his software to make typing easier for his brother, who lost an arm in a car accident.
KeyPoint Chief Executive and Founder Patel said: "This is a highly significant moment in KPT's development. We will use our development facilities in Scotland and India, as well as strengthening our sales and customer delivery staff for the US, Europe and Asia-Pacific.
"Our current products are available for Windows Mobile and Symbian smartphones in 27 languages and this investment will allow us to finalise development on other platforms and additional languages."
KeyPoint has 50 development staff at offices in Glasgow and Hyderabad in India, which includes more than 20 full-time linguists.
Peter Waller, chairman of the company, said: "What led us into looking at development capacity in India wasn't cost, it was skills. Obviously there are some valuable financial benefits."
The latest round of funding was from two individuals, one based in India and another in the US, bringing the number of major investors in the company outside Patel and his family to four.