Cyanogen, the US-based developer of an alternative Android mobile operating system, is close to agreeing a $110m series C round without participation from software company Microsoft, Bloomberg reported on Friday.
Investment firm PremjiInvest is set to be among the investors in the round, undisclosed sources told Bloomberg, but Microsoft has decided not to take part following talks with the company.
Reports in January suggested Microsoft was interested in investing in Cyanogendue to the potential of an Android operating system free of Google’s influence, which would enable it to release apps without paying heed to the search engine company’s conditions, which are extensive.
Microsoft could still however be interested in a licensing deal that would allow it to produce apps for Cyangoen’s system.
Cyanogen CEO Kirt McMaster implied in January that the company had secured $70m in new funding, up from the $30m previously raised, though no official announcement has been forthcoming. The latest funding is expected to value Cyanogen at upwards of $500m.
Cyanogen previously raised series A funding from backers including Redpoint Ventures and Benchmark Capital, the latter of which also participated in a $23m series B round in 2013 that also featured internet portal Tencent and VC firm Andreessen Horowitz.