“A new phone every month” was Bengaluru-based Creo’s ambitious goal. But only nine months after it raised $3 million with Sequoia Capital as its lead investor, it is in the final stages of being acquired by instant messaging app, Hike. The other investors in Creo are Beenext Ventures and India Quotient.
Multiple sources close to the deal confirmed this. They say that the deal is likely to go through soon and that it is likely to be an acquihire (buying a company largely for its staff, more than its products or services).
Creo’s mandate was to create a modified version of Google’s Android OS, called Fuel OS, which would help localise the former to the Indian market.