Amazon, Tencent invest in Android founder's new Essential smartphone

News Wireless Global 10 AUG 2017 Updated: 10 AUG 2017
Amazon, Tencent invest in Android founder's new Essential smartphone

Amazon and Tencent are among the investors in the new smartphone maker Essential started by Android creator Andy Rubin. The company announced that its earlier disclosed funding round of USD 300 million was led by Access Technology Ventures, the venture capital arm of industrial group Access Industries, with a US 100 million investment. 

Access will also join the company’s board of directors. Other investors in the round included Redpoint Ventures, Tencent Holdings, Altimeter Capital, Vy Capital and Amazon’s Alexa Fund.

Essential is hoping to challenge Apple and Samsung at the high end of the smartphone market and has already struck exclusive distribution deals for its device. While pre-sales are open for the first Essential phone, the company has yet to give an exact delivery date. Rubin said on Twitter that the phone is in "full mass production" and delivery times will be announced next week. 

Updates
10 AUG 2017 - Adds Rubin comment on phone availability.

Categories:

Mobile

Companies:

Amazon,  Tencent,  Essential

Regions:

Global

Tags:

Handsets, Financial funding

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