Amazon pours in funds for Android creator Andy Rubin’s smartphone startup Essential
The global e-commerce giant participated in the Series B funding round alongside Foxconn, Access Technology Ventures and Tencent Holdings
Amazon has joined a long list of backers of Android creator Andy Rubin’s technology startup Essential.
The recent funding round resulted in an infusion of USD 300 million in the technology startup which involved major global tech players says a report from Bloomberg.
Apart from Amazon, China's Tencent Holdings and Apple's iPhone assembler Foxconn Technology Group also took part in the USD 300 million Series B funding round alongside Access Technology Ventures.
Other backers included Redpoint Ventures, Altimer Capital and Vy Capital. Access Technology Ventures reportedly has contributed USD 100 million to the total funding.
The funding comes at a time when Andy Rubin’s electronics startup is getting ready to unveil its new Essential PH-1 smartphone.
First look of Essential's PH-1 phone along with the magnetic camera attached to it (Source: Essential.com)
First look of the Essential PH-1 in its Ocean coloured variant (Source: Essential.com)
Rubin started Essential after leaving Google in 2014 and has created a buzz among the tech community around the globe after it announced its phone PH-1 which had a pocket size 4k 360-degree camera.
In a tweet on Wednesday, Andy Rubin said that his company is entering “mass production” of this phone, along with some pictures from the production process.
— Andy Rubin (@Arubin) August 9, 2017
Essential’s upcoming handset is being placed as a rival to Apple's iPhone and Samsung's Galaxy range who presently dominate a large part of the smartphone market.
The PH-1 phone is going to be launched with a Qualcomm processor, a USB C port and a unique magnetic connector on the back to link it to external accessories such as the camera and a wireless charging hub.
The phone, without the magnetic attachment, will sport an 8-megapixel camera on the front and a 13-megapixel sensor at the back.
Presently, Essential is valued at USD 900 million to 1 billion.Essential also plans to release a smart speaker later called Home that is set to compete will Amazon’s Echo devices as well as with Google Home and Apple’s upcoming HomePod.