wordpress blog stats
Connect with us

Hi, what are you looking for?

, , , ,

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

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

News

By Anand Venkatanarayanan                         There has been enough commentary about the Indian IT...

News

By Rahul Rai and Shruti Aji Murali The Indian antitrust regulator, the Competition Commission of India (CCI) has a little more than a decade...

News

By Stella Joseph, Prakhil Mishra, and Surabhi Prabhudesai The recent difference of opinions between the Government and Twitter brings to fore the increasing scrutiny...

News

This article is being posted here courtesy of The Wire, where it was originally published on June 17.  By Saksham Singh The St Petersburg paradox,...

You May Also Like

News

IT Minister Ravi Shankar Prasad feels that “despite being in government”, there is a “gap” in online news platforms like the Wire, Scroll, and...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ