With significant contributions from the Chona Family Office, Revant Bhate (co-founder of Mosaic Wellness), and Bala Sarda (founder of Vahdam Teas), consumer electronics brand KREO has secured Rs 6.5 crore in a seed funding round that combines equity and debt financing. The round was led by Sauce VC.
According to a press release from KREO, the money will be used to expand the team, help with product development, support growth initiatives, and build brands.
Ishan Sukul, Niraj Chitnis, and Himanshu Gupta co-founded KREO in 2022 to provide gamers and content creators with cutting-edge and affordable electronics. The startup from Bengaluru currently offers a variety of accessories, including tripods, lighting, and audio products. KREO will also release gaming products for mobile and personal computers in the upcoming months.
Over 50 ground-breaking solutions for gamers and creators are expected to be released by KREO in the upcoming 12 months. The company claims to have a portfolio of 10 products. By the end of the current fiscal year, it expects to have generated over $6 million (roughly Rs. 50 crores) in annual revenue, representing a growth of more than 200% over the previous six months.
Additionally, the company wants to capitalize on India’s rapidly developing market for electronic consumer devices, which is expected to reach Rs 1,40,000-1,80,000 crore by 2025 with a projected CAGR of 15-20%.
