Thursday, May 4, 2017

Sachin Tendulkar backed Smartron to raise Rs 250 crore for expansion

Technology firm Smartron is raising up to Rs 250 crore from investors in the US and the Middle East as it looks to expand its bouquet of products, including smartphones and an electric scooter.

The startup is already backed by Indian Cricketer Sachin Tendulkar.

Also read: Smaaash Entertainment co-owned by Sachin Tendulkar to raise Rs 200 crore

Smartron founder and Chairman Mahesh Lingareddy said, We are closing another Rs 200-250 crore, some of which is already closed. This (funding) has come in from some sovereign funds in the Middle East, investors from the US, corporate investors.

The startup said, the funds will be utilised in building an ecosystem of Internet-connected devices that would include smartphones, smartbands, home security products and an electric two-wheeler.

Smartron launched its new smartphone as "srt phone" at a price of Rs 12,999 onwards.



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