Bengaluru-based Kreo Raises Rs 6.5 Cr In Seed Funding
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.”
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