26 July 2018, India:
Y Combinator has invested in smart SMS app Kyte.ai. This investment is part of its summer cohort. It invests $120K in startups for a 7% equity across two batches every year.
Ravish Naresh, cofounder of Kyte.ai said, “It is intended for the Indian market where SMS is the primary mode of communication for finance and commerce transactions and 60% of messages are spam. SMS alerts usage in India has exploded over the last three years and spam remains an unsolved problem.”
Tim Brady, partner, Y Combinator said, “Kyte is attacking a problem that we don’t see in the US, but is prominent in India. We are excited to work with them because they have a strong, technical founding team with great product design instincts.”
Kyte was was launched by Ravish Naresh in 2018. It is an intelligent SMS inbox. It’s machine learning algorithm automatically filters spam and brings out only the relevant information right when users need it. It claims to have over 100,000 downloads for its app.
(Image – Y Combinator)
