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Mango Man’s dongle Teewe raises Rs 11 crore from Sequoia Capital, India Quotient

Bengaluru-based
startup Mango Man Consumer Electronics, which has a flagship dongle product
called ‘Teewe’, an Indian version of Google Chromecast, has raised Rs. 11 crore
from Sequoia Capital and India Quotient, according to filings with the Registrar
of Companies. Sequoia Capital led the current funding round with Rs 9.5 crore.

Bengaluru-based
startup Mango Man Consumer Electronics, which has a flagship dongle product
called ‘Teewe’, an Indian version of Google Chromecast, has raised Rs. 11 crore
from Sequoia Capital and India Quotient, according to filings with the Registrar
of Companies. Sequoia Capital led the current funding round with Rs 9.5 crore.

Bharti
SoftBank’s Kavin Bharti Mittal, SoftBank’s Pavan Ongole, former Alcatel-Lucent
India chairman Arun Seth along with Palaash Ventures had participated in the
previous round which amounted to Rs 1.5 crore, reports the Times of India.

Mango Man
intends to use the injection of capital to further improve its current lineup
of products, develop new hardware to be launched later this year, and expand
its reach internationally, with Southeast Asia serving as the prime target. The
company, which currently employs 22 people, was founded in 2013 by Sai Srinivas
Kiran G and Shubh Malhotra.

“Very few
hardware startups have raised money, especially from such mainstream investors.
This is a testimony to our efforts and our product,” chief executive Sai
Srinivas Kiran told the Times of India. Its product, a dongle, can turn the TV
into an internet-connected streaming media player.

Mango Man’s
current flagship Teewe, an HDMI dongle, allows consumers to connect their
computers and mobile devices to a television and is compatible with Android,
iOS, Windows, Mac, Linux, and Chrome.

Since its
commercial launch in September 2014, Teewe has sold over 10,000 units of its
thumb-sized device. The startup plans to sell 50,000 devices by May 2015. Teewe
is priced at Rs 2,000, while Chromecast is priced at Rs 3,000.

“We are
delighted to back Teewee to build the next generation of smart hardware, made
intelligent with integrated software services..,” Shailendra Singh, M.D.,
Sequoia Capital India Advisors, was quoted in the report as saying.

Teewe, which is
banking on the technology differentiation to take on Google, streams both
online content as well as the content that could reside in a laptop, mobile
phone, tablet or desktop. The app picks up data from a device, adjusts for
parameters like resolution and audio levels suitable for TV viewing, before
streaming it to the TV. On the other hand, Google’s Chromecast only streams
from online sources.

All of the
content is for free, so far, and the company is in talks to make available
content from one of the biggest production houses in Bollywood and a TV channel
as well. Teewe also wants to bring classrooms to the drawing room by tying up
with content aggregators in the education space.

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