Daxap AS, a social entrepreneur in the IT and Software as a Service (SaaS) sector, has successfully completed a capital raise of 4.05M Norwegian Kroner (NOK), exceeding the financing goal by over 1M NOK. The capital is earmarked for the internationalization of Daxap and its SaaS products, including the multilingual communication platform Kiddy.
“I am incredibly proud of how far we have come since our inception in 2021,” says founder and CEO, Kubilay Kartal. “We had a dream to simplify communication and break down language and cultural barriers, and now we have the opportunity to do this on an even larger scale. We greatly appreciate the investors who have seen our vision and believe that we can improve society with unique and safe digital solutions.”
SaaS product for the public and private sectors
Kubilay Kartal and co-founder Emirhan Sözan moved from Turkey to Norway in 2018 and experienced significant challenges with language and cultural barriers, especially concerning young children and inclusion in daycare. This was something they wanted to address, leading to the creation of Daxap in 2021. Since then, they have experienced exponential growth with their IT services and the development of their own SaaS products in the public and private sectors. Additionally, Daxap has provided career opportunities for several individuals with immigrant backgrounds.
The capital raise is led by Limex Ventures from the U.S., with further support from Lectus AS in Norway, as well as a group of North American-based angel investors. All new and current shareholders will continue to be active contributors to Daxap’s goal of creating digital solutions for a better and more inclusive society.
“We look forward to collaborating closely with our new shareholders,” says chairman of the board Anders Krohn, who himself invested in Daxap through the company Lemmus Lemmus LLC in 2022. “Daxap has two bottom lines: financial success and social impact. On both fronts, we can show positive results, and the investors have already created significant value for us.”
More about Daxap:
- Focus on global expansion:
The communication platform Kiddy is already used by over 3,000 users in Norway, the Netherlands, Germany, and the United Arab Emirates – and the focus for 2024 is global expansion. With automatic translation in 19 languages, Kiddy is a solution that can operate on a global basis.
- Collaboration with research communities:
SINTEF’s study on Kiddy in 2023 showed that Kiddy contributes to better communication, relations and understanding between employees and parents.
- ISO 27001 certified:
Daxap has also obtained ISO 27001 information security certification. Security is an important area of focus for Daxap, both with its own SaaS products and in the development of IT solutions for their customers.
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