Qualcomm, Twitter help back Cyanogen in latest funding push

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Cyanogen Inc. has its eye on expanding well beyond its roots as a custom ROM for tinkerers and hackers, and has spent over a year now working to get its software onto more and more commercial handsets. As it continues to grow, the firm has been looking to take on new investors, and rumors from earlier this year suggested that Microsoft could find itself becoming a major investor in Cyanogen. However, just last week we heard that this Microsoft investment would be occurring, after all. So who would end up funding Cyanogen’s dreams for expansion? Today the company announces the details behind its latest round of funding.

Cyanogen’s taking in about $80 million this time, down from $110 million projections. Notable backers include Twitter’s investment arm, and SoC-maker Qualcomm. Those are joined by Telefónica Ventures, Smartfren Telecom, Index Ventures, Access Industries, Rupert Murdoch, Vivi Nevo, and several additional unnamed parties. Premji Invest led the effort.

The presence of some big names in mobile there may help ease concerns about Cyaongen’s future, especially after its falling out with OnePlus. Then again, the success those other Cyanogen-powered phones have been seeing in India (which started this whole OnePlus mess), should be more than enough to prove that on its own – this new financial backing is more the icing on the cake. And while it would have been very interesting for Microsoft to back Cyanogen Inc. as rumored, it still sounds like the company has rounded up more than enough money to keep up with its plans for growth.

Source: Cyanogen
Via: Android Central

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About The Author
Stephen Schenck
Stephen has been writing about electronics since 2008, which only serves to frustrate him that he waited so long to combine his love of gadgets and his degree in writing. In his spare time, he collects console and arcade game hardware, is a motorcycle enthusiast, and enjoys trapping blue crabs. Stephen's first mobile device was a 624 MHz Dell Axim X30, which he's convinced is still a viable platform. Stephen longs for a market where phones are sold independently of service, and bandwidth is cheap and plentiful; he's not holding his breath. In the meantime, he devours smartphone news and tries to sort out the juicy bitsRead more about Stephen Schenck!