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Dexetra Deal Not Closed Yet: Sequoia Denies It Has Invested

Earlier today, NextBigWhat reported that Sequoia Capital has invested $3 million in Dexetra, which is the company behind Iris (an android clone of Siri), and Friday, an application which tracks an individuals usage of the mobile phone. On being contacted by MediaNama, Mohit Bhatnagar, MD, Sequoia Capital India, said that the company has not invested in Dexetra. Vijay Shekhar Sharma, MD of One97 Communications*, said that the One97 Mobility Fund has not exited Dexetra (NBW had initially said that it had) and that while no deal has been closed, fund raising is in progress. He did not comment on who the investors are. We also did not get a response to a call made to Narayan Babu, founder of Dexetra.

Note that while Sequoia Capital India has denied having invested in Dexetra, it has not denied that it is in the process of investing in the company: I’d heard this rumor in July 2012 when I was in Bangalore, so it’s been around for a while. Perhaps the deal is nearing closure.

The One97 Mobility Fund had invested in Dexetra in November last year, and Dexetra has just released a fresh update of its Friday application for Android.

*Disclosure: One97 Communications is an advertiser with MediaNama

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