WebEx co-founder's new venture Moxtra raises $10M from Cisco, Starwood Capital, others
Silicon Valley-based Moxtra Inc, which provides a mobile-centric social collection and collaboration application to help users organise documents, photos, videos and drawings in project binders, has secured $10 million in first round of funding from technology major Cisco Systems and Japanese telecom operator KDDI Corp.
China-based tech startup incubator Innovation Works and Starwood Capital's founder Barry Sternlicht have also co-invested in the firm. The amount will be used to accelerate the company's platform development and expand its marketing efforts.
Moxtra, which launched its product at Techcircle Demo event early this year, was founded in January this year by Subrah S Iyar, co-founder of WebEx, an on-demand collaboration, online meeting and web conferencing solutions firm which was acquired by Cisco for $3.2 billion in 2007. Moxtra's app enables users to collect any type of digital content, access remote files on desktops, personalise content with voice and share content publicly on social media or collaborate selectively. In March, Moxtra opened a product development centre in Bangalore. It will also provide technical and customer support from this office.
A free app, Moxtra initially launched the iOS version which was upgraded with a few more features recently. The app is available in 18 foreign languages—Chinese, Danish, Dutch, English, Finnish, French, German, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Swedish, Thai, Turkish and Vietnamese.
The firm has also announced that it has further upgraded its iOS app. "Moxtra V2.0 delivers a rich conversation experience to users by creating continuity and context across content, through powerful interaction capabilities. The commitment from our investors will enable Moxtra to deliver and expand on this promise," said Iyar.
(Edited by Joby Puthuparampil Johnson)