Kreo, a consumer electronics brand from Bangalore on Tuesday raises Rs 6.5 crore in a mix of debt and equity as part of a seed funding round. This round was led by the renowned Sauce.VC consumer venture capital fund, with an Rs 3.3 crore investment.
This round also had significant participation of other renowned investors including the Chona Family Office, Revant Bhate (Co-founder at Mosaic Wellness), Bala Sarda (Founder at Vahdam Teas) and Nikhil Bhandarkar (Co-founder at Panthera Peak Capital). This establishes Kreo's position as a rising star in the realm of digital content creation and gaming. Ishan Sukul, Niraj Chitnis and Himanshu Gupta founded Kreo in late 2022 with the aim of unleashing a revolution in the field of gaming and content creation.
Yash Dholakia, Director of Sauce.VC, expressed excitement for industry and company growth stating, “We are very excited by the growth in the creator and gaming space in India, as we believe the elements are nearly perfectly aligned for this space – with a large young, digitally native population, growth of 5G networks and cloud gaming reducing entry barriers for young gamers, massive investment in development of games and social media platforms and a very favourable distribution environment. Ishan, Niraj and Himanshu have shown a very sharp acumen in understanding this consumer segment, and translating that into innovative and beautifully designed yet affordable products. We view Kreo as an opportunity to build a very unique brand in the rapidly growing electronic consumer devices market.”
Kreo's vision transcends commerce. It is more than just a consumer electronics brand – it's a movement. It's about nurturing an expansive, enthusiastic community of gamers, creators, and visionaries, emphasising its ethos of 'By the Kreators, For the Kreators'.
Each Kreo product is a testament to the brand's deep understanding of, and commitment to, the unique needs of the digital passion economy. Kreo’s strategy is to tap into India's rapidly evolving electronic consumer device market, which is projected to grow at a CAGR of 15-20 per cent and reach a staggering Rs 1,40,000-1,80,000 Cr by 2025.
Kreo’s current product portfolio includes Lighting and Audio products as well as tripods and other accessories. In the coming months, Kreo will launch both mobile and PC gaming products as well. By positioning itself at the intersection of technology, passion, and creativity, Kreo is shaping the future of the passion economy, one innovative product at a time. Kreo has shown promising signs in terms of momentum so far, growing 200%++ in the last 6 months, and is on track to cross USD 6 million ARR (INR 50Cr) by the end of this financial year.
Ishan Sukul, Co-Founder and CEO of Kreo, expressed, “I have spent countless hours immersed in PC games such as Unreal Tournament and Counter-Strike, and in crafting and sharing memes on social platforms. I've experienced the excitement of being a content creator and gamer, which is what led me and us as Kreo to identify a gap in the industry - the lack of high quality, user-friendly products.” “We founded Kreo with a dual aim - to equip gamers and content creators with top-notch hardware solutions, and also to build a close-knit, all-encompassing community where our users can truly feel they belong as a cohort.” Sukul further adds, “We're in an era where content creation and gaming are evolving into highly lucrative professions, with ad revenue shares climbing to as much as 75%. At Kreo, we are committed to supporting this shift, providing the essential tools needed for success in this rapidly expanding field."