HomeeCommerce News5th leading headset brand, boAt raises $100 million from Warburg Pincus

5th leading headset brand, boAt raises $100 million from Warburg Pincus

Warburg Pincus, an American private equity firm invests into boat an amount of $100 million as of Wednesday.  Although bOAt the valuation at which funds were raised has not been made public, it declared that the fresh capital will enable them to defend and claim its leading market position and also widen its Research and Development (R&D) capabilities and product portfolio. In addition to this, the funding will also support the company’s efforts to create and maintain a manufacturing ecosystem under the guidance of the Make-in-India initiative.

“The investment is great news for not only the company but for the entire D2C (direct-to-consumer) sector. It has come at the right time as we make efforts to ramp up our manufacturing and global supply chain,” Aman Gupta, co-founder of boAt, said in a statement.

Launched in 2016, boAt’s products range from earphones, earphones, smart-watches, speakers, travel chargers, and premium cables. It started with selling mobile cables and charges but in the present date, it has a demand of about 15,000 units a day selling everything from smart-watches, speakers to power banks. The company believes to have become a leading wireless headset brand in India. Currently, the company has around 150 employees on its team across its office both in Delhi as well as in Mumbai. Back in the year 2018, it had announced raising an amount of INR 6 crore from Fireside Ventures and also Rs. 25 crore from Innoven Capital.

BoAt not only is solidifying its position in the Indian market as one of the leading players, but it has also emerged to be the 5th largest wearable brand globally among its various competitors like Apple, Xiaomi, Huawei, and Samsung, the company said citing IDC (International Data Corporation) data.

“We see a compelling growth story in boAt and believe the company is well-poised to build upon the strong leadership position it has carved out within the industry and stands to benefit from the secular tailwinds of e-commerce growth in India,” Vishal Mahadevia, managing director and head at Warburg Pincus India, said.

Sanna Sharma
Sanna Sharma
Sanna Sharma is an emerging freelance content writer, specializing in content relating to e-commerce news. She is working with Ecommercenext.org currently. It is a platform that provides the latest e-commerce news, events, blogs, webinars, reviews, job postings, and analysis from around the world. She is a keen individual with competitive writing abilities and is always working on herself to become a better her.

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