Cuzor raises Rs 5 crore from Kaynes MD Ramesh Kannan

New Delhi, Sep 1 (PTI) Consumer Electronics brand Cuzor has raised Rs 5 crore in a seed funding round from Kaynes Technology India founder & MD Ramesh Kannan.

The Bangalore-based startup will utilise the funds for research and development, as well as hiring talent, according to a company statement.

"Out of the total Rs 5 crore funding, more than half will be allocated towards R&D and hiring talent. We plan on hiring skilled engineers and expanding our talent pool, and also invest in strengthening our R&D infrastructure.

“This will ensure we have the right capabilities to accelerate innovation. The remaining funds will be directed towards brand building, as Cuzor prepares to go deeper in the charger and mobile accessories market," said Sachin D Naik, Founder and CEO, Cuzor Labs. PTI ANK MR