Cyanogen Inc. is close to an agreement on a new $110 million round of financing, people with knowledge of the matter said, as the startup seeks to get its version of Android software into more smartphones.
PremjiInvest, the investment vehicle of Wipro Ltd. Chairman Azim Premji, will be among the investors in the new funding, said the people, who asked not to be identified because the news isn’t public. Microsoft Corp. decided not to invest after negotiations, although it may still be interested in a commercial deal to get its software onto Cyanogen’s mobile operating system, one person said.