Cyanogen, the famous startup which builds a forked version of the Android is said to be close in raising $110 million in a latest round of funding. Earlier reports said that Microsoft intended to become a minority investor for $70 million but according to Bloomberg it seems that Microsoft is no more interested.Cyanogen will require additional capital for infusing its overlay into more Android devices in a bid to establish strong foothold in the custom ROM market. Azim Premji’s PremjiInvest, will be one of the investors in the latest round of funding Cyanogen is seeking. Cyanogen’s valuation will skyrocket to $500 million if the funding round is over. Sources from Bloomberg maintain that Microsoft is still in talks with Cyanogen to get Microsoft’s software integrated with Cyanogen. Also Read - WhatsApp is soon to change the way your data is backed up: What it means?Also Read - WhatsApp introduces 'Papa Mere Papa' stickers to celebrate Father's Day: How to download, send?
Cyanogen was initially successful in raising a $7 million funding from Benchmark Capital followed by another swift round of fundraising which helped them secure another $23 million. Also Read - iPhone users now get Picture-in-Picture mode for YouTube videos worldwide
Cyanogen provides a customized operating system by modifying Android that provides numerous tweaks to users. The company has partnered with Micromax, OnePlus and Alcatel OneTouch to have its operating system on their smartphones. The company also provides CyanogenMod, an custom ROM that can be installed on Android smartphones.