Basic Information | Company Name | ISR13ZV071101 | |||
Registration Address | Israel | ||||
Industry (energy saving and environmental protection, new energy, mobile Internet, consumer goods, creative culture, high-end equipment manufacturing, IT, life sciences, modern services, modern agriculture, new materials, others) | IT, Telephony | ||||
Project Description | Product description: The product is the world’s first automatic phone interpreter. Meaning you now have the ability to pick up the phone inChinaand call a person inRussiaorBrazilor theUSand simply converse. Our vision is to enable communication between people in any language, in any type of phone (landline or mobile), without the need for internet connection and all this in an affordable price. Our low rates starting at 15 cents per minute include the international call as well as the interpretation service. This is great for any small or medium business that could never afford a human interpreter, 20 times more expensive than our product. Funding History: Jan 2010: Israeli Chief Scientist - $250K, Private investors - $600K; Nov 2011: Intertainment media (TSXV:INT) - $2M, post valuation of $8M. The $2.85M raised so far has brought the company to complete R&D, increase the team (R&D, QA, Support, IT, Web), launch inMexicoand cooperate with the industry’s top players. We expect to exceed our original business plan. Amount to be raised: The company is seeking $5 M, which will fund its growth activities. Pre-money valuation: 15M USD Use of proceeds: The current round will be used for sales ramp up in theAmericasandAsia. Namely to establish local sales/marketing, operations and 1st level customer support teams. Local linguistic teams will also be hired to enhance our IP. R&D / 2nd level support will remain inIsrael. Strong and experienced Leadership: The CEO with over 30 years experience in computational linguistics, senior IBM scientist and entrepreneur. Founder of Attunity (ATTUNASDAQ). Strategic opportunities: The company has attracted the major telecoms including Telefónica who joined our board. The BBC has acknowledged it as being the first mover in the field of automated phone interpretation. Governments inNorth Americaand other parts of the world have already begun work with it. Companies like HP have also signed letters of interest.Babylonhave started distributing its product, Telecoms like SFR France have begun integration and more are following suit. The direct online sales via Lexifone.com and our Android app are the top selling channels at the moment with thousands of customers already listed. Companies like Microsoft, Alcatel Lucent and others have yet to launch, but are developing similar technologies, indicating automated phone interpretation as an attractive business opportunity. The company has the potential to be a strong independent player and there is also a strong possibility for a strategic partnership or to an M&A deal in the hundreds of millions (as shown on the left). Milestones achieved • Seed (800k) and $2M Series A raised from Intertainment Media (TSXV:INT) 25% stake • Soft Launch: October 2012, sales begin in small scale • Telefónica Digital Joins Lexifone board: July 2012 • Commercial Launch inMexicoOct 2012 - Sales begin inMexico • Large scale purchase orders from Governments, OEMs and major players are either in place or in negotiations (Babylon, SFR, HP, Intel, ZTE and more). (June 2013) | ||||
Date of Establishment | January 2010 | ||||
Revenue of Last Year ($) | - | ||||
Operating Profit of Last Year ($) | - | ||||
Core Competence | Automatic Call Interpretation | ||||
Number of Employees | 8 | ||||
Capital Structure | |||||
Does the company hold patent? | Yes | ||||
Patent Description | Name | System and Method for Automatic Speech Translation | |||
Application No. | Type | PCT International | |||
Granted Date | Application Date | 2013 | |||
Patent Holder/Applicant | The company | ||||
Project Requirement | Capital Requirement ($) | $5M (USD) | |||
Purpose of Financing | Sales, Marketing | ||||
Contact Info | Contact Person | Bella ZHU | |||
Telephone | +86 10 5973 3417 | ||||
Address | Room 612, PE Plaza Of Zhongguancun, No.8 North 2nd Ave, Haidian District, Beijing 100080, P.R.China |