Mumbai, July 20: MyZus, a technology company set up by a team of 12 IIT Bombay graduates is in the process of sourcing at least $10 million from a couple of overseas funds within the next month. Speaking to eFE, Roshan D'Silva, CEO, MyZus also said that the company is all set to launch its first product - a WAP solution for mobile service providers which will save about 60 per cent in terms of the time taken to access information by the user. The company plans to enter into revenue sharing deals with the service providers whereby the product would be leased to them for a per user license fee. "We plan to charge about $1 per mobile user per year", says D'Silva. The company hopes to rake in revenues through the volumes generated through international sales of the product. The solution MyZus.com is basically a gateway of sorts which will enable the mobile service provider to make available a one click solution for its users. Currently, accessing WAP enabled information is a time consuming process which involves using all the buttons on the access device. What MyZus is working on is a solution which will require the user to use only the scroll button with its click facility, this is the key time saving feature that comprises MyZus' USP.
MyZus.com will serve as a gateway for all WAP-enabled information on the Internet unlike some of the existing WAP portals which offer their own content which is restricted to the content that their partners can provide. "Its a service which will enable service providers to provide the most streamlined voice and data to users" explains D'Silva. MyZus which plans to launch the solution within the next two months hopes to capitalise on the lead time that it will have established considering it will be at least four months before a similar product can hit the market. The MyZus team comprises IIT Bombay graduates who have been incubated by the business incubator set up by the Kanwal Rekhi School of Information Technology at IIT.
The team raised its initial fund from agroup of NRI investors. MyZus plan to add more applications to its WAP product gradually.
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