CREO has secured a $3 million funding to develop a smartphone as well as a proprietary OS based on Android. The funding has been secured from Sequoia India, Beenext Ventures, and India Quotient. The company has stated that it will launch a flagship smartphone later this year. CREO’s first product, a HDMI media streaming device called Teewe, was launched in 2014. The device's follow-up, Teewe 2, was launched a year later.
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CREO, a Bangalore based fast-growing consumer Technology Company, has secured $3 Million funding from Sequoia India, Beenext Ventures and India Quotient. The home-grown tech start-up will join the exclusive niche of global companies that produce smartphones by developing both, a proprietary software OS and the smartphone itself.
On the inception of the start-up, Sai Srinivas, Co-Founder & CEO, CREO, said, “The idea of building an Android based Operating System for a Smartphone stemmed from the realization that in the current market, while hardware is getting better very fast, there is not enough differentiation on the software front. We want to be the ones bridging that gap.”
CREO will invest the funds in building an enriching and evolving software experience through their proprietary Android based Operating System and a flagship Smartphone to be launched later in the year.
Commenting on the round, Sai Srinivas, Co-Founder & CEO, CREO said, “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 an operating system 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.”
Formerly known as Mango Man Consumer Electronics Pvt. Ltd., CREO’s first product offering was Teewe – an HDMI media streaming device that was launched in September 2014. With Teewe 2, launched in May 2015, Teewe has established itself in over 50,000 households across India.