The funding comes from Sequoia Capital, India Quotient, and Japanese VC firm Beenext Ventures
Bangalore-based startup MangoMan Consumer Electronics, which earlier developed an HDMI dongle called Teewe that allows you to stream media wirelessly via a smartphone app to your TV, has now rebranded as CREO.
The firm is now foraying into the smartphone market by building own brand and developing a proprietary Android Operating System (OS). For the same, it has just just raised US$3 million from existing investors Sequoia Capital and early-stage VC fund India Quotient. Japanese VC fund Beenext Ventures also joined the current round.
CREO expects to launch the smartphone brand later in the year.
“The idea of building an Android-based OS for a smartphone stemmed from the realisation that in the current market, while hardware is getting better very fast, there is no enough differentiation on the software front. We want to be the ones bridging that gap,” said Sai Srinivas, Co-founder and CEO of CREO.
He added: “We believe when powerful hardware works hand-in-hand with continually-evolving software, magical experiences can be created. Our team is gearing up to make anOS and a smartphone that constantly evolves to give you new experiences every month; experiences that were never heard of on any smartphone. In the long run, we also plan to license our OS to other OEMs in India and worldwide.”
The firm had earlier raised US$1.7 million Sequoia Capital and India Quotient.
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