Consumer technology startup Teewe is making a rebranding announcement today to Creo, along with raising a sum of $3 Million. Sequoia India, Beenext Ventures and India Quotient were among some of the participants of this round.
The funds are in addition to an 11 crore sum that was raised in March when it was still called Mango Man (Teewe), last year. Sequoia Capital — which was also one of the more significant participants of the previous rounds — led the current fundraise with a sum of Rs 9.5 crore.
The company will deploy the funds for a pretty giant leap in its business. Apparently, the company has set its eyes upon developing smartphones — nothing new in that, but hang on — along with a brand new, proprietary Operating System for its devices.
The company expects to launch devices packed with its software by the year end.
Speaking on the topic, Creo co-founder and CEO Sai Srinivas said
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,
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,”
The company has already been making waves with its different products, so the idea of an android based unique operating system, coming from Cero, isn’t as surprising.
Previously known as Mango Man Consumer Electronics, the Creo opened up shop with an innovative HDMI media streaming device dubbed Teewe, that was launched in September 2014. Teewe 2 followed less than a year later and was a success with more than 50,000 units sold across the country.