Qualcomm invests in native audio chief BoAt, Telecom Information, ET Telecom
The funding, for which the corporate has not disclosed additional particulars, shall be used to roll out next-generation audio and life-style merchandise in all geographies.
“As boAt enters the following section of progress and innovation, we sit up for forging a relationship with Qualcomm to deepen our R&D capabilities and additional enhance our product manufacturing efforts in India,” mentioned Sameer Mehta, Co-Founding father of boAt.
In January, boAt raised about $ 100 million (over Rs 731 crore) from a subsidiary of Warburg Pincus, one of many world’s main personal fairness funds, to speed up manufacturing and go international.
At the moment the primary model within the headphone (earphones, earphones, sound equipment) and TWS (True Wi-fi) class in India, boAt has additionally turn out to be the fifth largest wearable clothes model on the earth, in line with the newest IDC knowledge.
“As a expertise enabler and investor with a long-standing presence in India, we sit up for being part of boAt’s progress and furthering its imaginative and prescient of delivering world-class merchandise to shoppers, not only for India.” , however to assist their increasing worldview, ”mentioned Rajen Vagadia, vice chairman and chairman of Qualcomm India Pvt Ltd.
Over the previous yr, boAt has doubled its workforce and arrange native R&D in Bengaluru.
Launched in 2016 by Aman Gupta and Sameer Mehta, the corporate has additionally expanded into new classes equivalent to smartwatches, along with launching over 20 new merchandise within the audio class in FY21.