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DATA XGen Tech to raise Rs 150 cr to fund expansion

Press Trust of India  |  Mumbai 

DATA XGen Technologies, a group company of Data which has launched free linguistic email under 'Datamail' brand, today said it intends to raise Rs 150 crore in next 12 months to fund its expansion.

"We have successfully launched world's first free linguistic email address under the name 'Datamail'... And now we plan to raise Rs 150 crore in next 12 months period to expand our services in and abroad.

"We are talking to strategic investors for the proposed investment," XGen Technologies CEO Data said in a statement here.

Datamail allows users to create email IDs in eight Indian languages, English and three foreign languages -- Arabic, Russian and Chinese. Over a period of time, email service in 22 languages will be offered.

As part of its expansion plans, the Jaipur-based IT company hopes to set up data centres in China, and several other countries to offer linguistic email addresses in those countries, he said.

Indian languages account for less than 0.1 per cent content on world wide web. Also, over 89 per cent population is non-English speaking and unable to read and communicate via email as the language utilised to communicate is English.

"With 220 million users, is now world's second-biggest smartphone market which is further expected to grow very fast. Now with the connectivity of internet, Indian population has become digitally equipped but there are other factors that require to be taken into consideration for achieving greater digital and mobile connectivity.

"The issue of language is extremely critical, which remains largely unaddressed and therefore, Datamail can break this clutter and lead the Digital dream," Data said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 18 2016. 18:22 IST