The Bangalore-based Mango Man Consumer Electronics, makers of Teewe, has announced that it has raised $1.75 Mn in seed funding from global venture capital firm Sequoia Capital and India Quotient Fund.
The funding will be utilized for product enhancement, new product development, scaling production and distribution, as well as for international expansion of the company’s flagship product – Teewe.
Speaking on this development, Sai Srinivas Kiran G, Co-founder and CEO, Mango Man Consumer Electronics said, “We are very thrilled with this round of funding from Sequoia Capital and India Quotient Fund, and consider it a validation of our founding principles. Teewe is our first attempt to change the way users experience video streaming, and we will continue this quest with upgrades for Teewe and launch of new products that will revolutionize home entertainment.”
Mango Man Consumer Electronics was founded in 2013 by Sai Srinivas Kiran G and Shubh Malhotra and currently has a team of 22 comprising of engineers, designers and hackers. The company received angel investments from Kavin Bharti Mittal, Pawan Ongole, Arun Seth and Palaash Ventures. The company aims to be at the forefront of it by developing great electronic products at attractive price points.
The company is is set to re-imagine the home entertainment experience by offering connected entertainment products, the first of which is the Teewe. Teewe is a HDMI media streaming dongle that converts a normal TV to a smart TV. It allows users to stream HD quality content off their devices including desktops, laptops, mobile devices and tablets. The accompanying software is compatible across platforms such as Android, iOS, Windows, Mac OS, Linux and Chrome.
Teewe competes with Google’s Chromecast as both devices connect directly via HDMI to an HDTV and allow users to wirelessly stream content from their phones and laptops. The simple plug-and-play technique appeals to most potential users.