Essential confirms $300M funding, Amazon and Best Buy retail availability

Essential confirms $300M funding, Amazon and Best Buy retail availability

Essential confirms $300M funding, Amazon and Best Buy retail availability

With executives headed out the glass door, Andy Rubin's Essential is hurting in morale.

In a tweet on Wednesday, Rubin announced that the company was in "mass production" of its phone, and that additional information would be available next week. Essential hasn't said when the phone will launch, only noting yet again that it's due out "in a few weeks" and will be sold by Amazon and Best Buy.

According to a report by The Wall Street Journal, Amazon would be making use of the Alexa funds to invest in the Essential phone.

Andy Rubin and his company clearly want to disrupt the duopolistic United States smartphone market, which is now dominated by two companies: Apple and Samsung. The best bit of news, though, comes in the form of a set of dates.

Are you waiting for your Essential Phone to arrive? But, even with its expanded war chest, the company will have a hard time trying to break into the highly competitive phone market, which is dominated by Samsung and Apple.

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In addition to Amazon, Chinese Internet company Tencent, Taiwan manufacturing giant Foxconn, and Future Fund - Australia's sovereign wealth fund - invested in Essential's latest funding round.

The funding news was a much-needed breath of fresh air for the still-mysterious startup.

"Essential Products has a compelling vision and roadmap for connected devices that integrates voice technology in novel ways", Bernard said in the statement.

Essential has generated a lot of hype around its forthcoming Android-based smartphone based on the pedigree of its founder and its unique design with maximizes the screen area of the device.

Essential gets more funding to help bring its devices to market. Other investors included Playground, which is Rubin's own startup incubator, venture capital firm Redpoint, and tech investors Vy Capital and Altimeter Capital. However, with Sprint as an exclusive partner in the United States and Telus in Canada, Essential may not have such a far-reaching impact - at least not this time around.

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