BRONCO, Italy — Bruno Technologies Inc. is planning to launch an application platform for mobile devices in the first quarter of 2021, its chief executive said Wednesday.
The company is working on an app for Android, iOS and Windows Phone that will be developed with Google Inc. and Microsoft Corp., the CEO, Guido Bruno, told reporters.
The platform will be launched later this year, Bruno said.
The business was founded by Bruno co-founder and CEO Guido Giuseppe Bruno in 2013.
“We have reached the end of our journey,” Bruno told reporters at the conference.
“Bruno is very excited about the potential of the mobile application market, which is growing rapidly in China and India.
We are focused on the mobile applications market to grow our revenues, Bruto said.
Bruno’s company has already raised a total of $12.6 million in its funding round.
Its current stock is trading at a price of about $2.80 per share.
In the past two years, the company has raised another $2 million in a $7 million Series A round led by private equity firm TPG Capital.
Bruto is also a founder of the startup Tivoli, which sells digital art.
In addition to its existing businesses, Brato is an investor in a number of other companies, including Spotify, Spotify Play Music and Tilt, and has a stake in the tech incubator StartupLab.
“We are really proud to have such a long and distinguished history, from my own roots in Italy to the company that Bruno is today,” Brado said. “
For the first time in the history of the company, we are approaching a billion-dollar valuation,” Bruto told reporters during a conference call.
“We are really proud to have such a long and distinguished history, from my own roots in Italy to the company that Bruno is today,” Brado said.
At the same time, Brino’s company will focus on developing new products, he added.
With a valuation of $6.8 billion, Brado’s company is expected to be a strong investor in the space.
However, Brando did not disclose how the app will work.
Brado did say the app is based on Android.
The app will be free, with Bruno calling it “a free-to-use platform.”
The company is not disclosing its target market or pricing for the app.
The first smartphone to be developed will be Android-based, Bróuno said, adding that Bróuto is working to develop more mobile products in the future.
In addition to the Bruno smartphone, the app company will also develop applications for Microsoft Windows, Nokia Symbian, Samsung Symbian and other mobile platforms.
This is the first major investment Bróado has made in a major startup, according to Bruno.
Bróudo’s investment comes at a time when the tech industry is growing in China, with a $2 trillion market expected by 2021.
The Chinese market has become a leading place for technology startups, according the McKinsey Global Institute, with an estimated $30 billion in revenue and more than $500 billion in market capitalization.
While Bruno will not be a founding member of Brionet, the tech giant is a major investor in Brino and other Bruno companies, according Toomas Zivkovic, the chief executive of Brino.
Zivkin says Bruno has invested in other Brionets, including Brionetechnics and Brino Technologies.
Bruno also said Brino plans to open a global research and development center in India, adding it is in discussions with Indian government regulators to make this possible.
The Indian government has given the go-ahead to Brino to open research and innovation centers in five cities in the country, including New Delhi, Hyderabad, Mumbai, Bangalore and Ahmedabad.
India’s smartphone market is expected by 2020 to grow to more than 300 million units, with more than 30 million smartphones sold globally, according data from market research firm Gartner.
According to Gartners, India is expected be the world’s second-largest smartphone market, behind China, followed by the United States.