Consumer technology startup Creo, which was previously known as Mango Man Consumer Electronics, has raised $3 million from Sequoia India, Beenext Ventures and India Quotient.
The raised capital will be used to produce smartphones by developing a proprietary software OS and the device as well.
Commenting on the development, 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.” That is the gap Creo wants to bridge, he added.
Further, he said that intent is to make an operating system and a smartphone that constantly evolve to give the users new experiences every month; experiences that were never heard of on any smartphone. In the long run, the company also plans to license its OS to other OEMs in India and worldwide.
The company will launch the proprietary Android-based operating system and the flagship smartphone later this year. 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.