Image default

Bengaluru-based Kreo Raises Rs 6.5 Cr In Seed Funding – The StartupLab : Compliance | Tech

Kreo, a Bangalore-based consumer electronics brand, has raised Rs 6.5 crore in a mix of debt and equity as part of a seed funding round.

The funding round was led by Sauce.VC that invested Rs 3.3 crore in Kreo. Other renowned investors, including the Chona Family Office, Bala Sarda (Founder at Vahdam Teas), Revant Bhate (Co-founder at Mosaic Wellness), and Nikhil Bhandarkar (Co-founder at Panthera Peak Capital) also participated in the funding round.

Kreo | Consumer Electronics Brand

Founded by Ishan Sukul, Niraj Chitnis, and Himanshu Gupta in late 2022, Kreo is a consumer electronics brand that equips gamers and content creators with top-notch hardware solutions.

Its current product portfolio includes Lighting and Audio products, tripods and other accessories. In the coming months, the startup plans to launch both mobile and PC gaming products as well.

Speaking about the development, Ishan Sukul, Co-Founder and CEO of Kreo, said,

“We founded Kreo with a dual aim – to equip gamers and content creators with top-notch hardware solutions and also to build a close-knit, all-encompassing community where our users can truly feel they belong as a cohort. We’re in an era where content creation and gaming are evolving into highly lucrative professions, with ad revenue shares climbing to as much as 75%. At Kreo, we are committed to supporting this shift, providing the essential tools needed for success in this rapidly expanding field.”

The startup positions itself at the intersection of technology, passion, and creativity. It has shown promising signs in terms of momentum so far, growing 200%++ in the last 6 months, and is on track to cross $6 million ARR (INR 50Cr) by the end of this financial year.

Its strategy is to tap into India’s rapidly evolving electronic consumer device market, which is projected to grow at a CAGR of 15-20 per cent and reach a staggering Rs 1,40,000-1,80,000 Cr by 2025.

Commenting on the development, Yash Dholakia, Director of Sauce.VC, said,

“We are very excited by the growth in the creator and gaming space in India, as we believe the elements are nearly perfectly aligned for this space – with a large young, digitally native population, growth of 5G networks and cloud gaming reducing entry barriers for young gamers, massive investment in development of games and social media platforms and a very favourable distribution environment. Ishan, Niraj and Himanshu have shown a very sharp acumen in understanding this consumer segment and translating that into innovative and beautifully designed yet affordable products. We view Kreo as an opportunity to build a very unique brand in the rapidly growing electronic consumer devices market.”

Follow us and connect with us on Instagram, FacebookTwitter, and LinkedIn.

Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Companyregister a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt fundingCFO Services, or other startup related legal servicescontact us.

Source link

Related posts

Conversational AI Startup Voiceoc Raises Rs 3 Crore In Funding

Sarah Villa

Well done, Pismo and Visa! You gave SoftBank a win

Sarah Villa

Agritech Startup BioVeda Raises Funding From iAngels

Sarah Villa

Amazon Care vets raise $5M for virtual health startup focused on Latino patients

Sarah Villa analyses screenplays, videos, and packaging and casting of movies

Sarah Villa

Metaverse platform Trezi raises over $2M in a Series A round led by World V, YourNest VC

Sarah Villa

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More