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Creo raises $3mn from Sequoia, others

Thursday, Jan 21, 2016,11:45 IST By Metrovaartha A A A

New Delhi | Consumer technology startup Creo has received USD three million (over Rs 20 crore) funding from Sequoia India, Beenext Ventures and India Quotient. The Bengaluru-based firm will use the funds to produce smartphones by developing a proprietary software OS and the device as well.

The idea of building an Android-based Operating System for a smartphone stemmed from the realisation that in the current market, while hardware is getting better very fast, there is not enough differentiation on the software front, Creo co-founder and CEO Sai Srinivas said today. That is the gap Creo wants to bridge, he added. Creo will launch the proprietary Android-based operating system and the flagship smartphone later this year.

The intent is to make an operating system and a smartphone that constantly evolve 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, he said.

Formerly known as Mango Man Consumer Electronics, Creo’s first product offering was an HDMI media streaming device – Teewe – that was launched in September 2014. With Teewe 2, launched in May 2015, the company sold over 50,000 units across India.