PremjiInvest Leads A $80mn Series C Investment In Cyanogen


PremjiInvest Leads A $80mn Series C Investment In Cyanogen

PremjiInvest has led a $80 million Series C funding round in Cyanogen – the builders of the most popular forked version of Android.
Cyanogen plans to utilize the newly raised capital to hire talent and speed up the development of its OS platform. Including the Series C round, the company has so far raised $110 million.
We’ve been hearing news of Cyanogen raising another round of investment for sometime now, and it was rumoured that even software giant Microsoft would take part.
The company is well positioned to become the third largest mobile OS provider after Google’s Android and iOS, displacing Microsoft which currently controls about 3% share in the mobile market.
Cyanogen OS has been gaining in popularity as its version of Android is devoid of Google apps and services, appealing to not just privacy centric users but also the software giant’s rivals.
While Google doesn’t charge OEMs to use its Android operating system, it mandates that they preinstall its services such as Chrome, YouTube, Gmail, etc, in order to have access to its PlayStore services.
Moreover, Cyanogen has been quite open with its plans of stealing Android away from Google, and is partnering with local OEMs to bring its platform to users.
OnePlus is the largest user of Cyanogen developed software, while a partnership between the software maker and India’s Micromax gave rise to the YU brand.
The other investors that participated in the Series C round include Twitter Ventures, Qualcomm Incorporated, Telefonica Ventures, Smartfren Telecom, Index Ventures, Access Industries, Rupert Murdoch, and Vivi Nevo. Existing investors Benchmark, Andreessen Horowitz, Redpoint Ventures, and Tencent also participated in the round.

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