BoAt raises $100 million in funding from Warburg Pincus
New Delhi, Jan 6, 2020: Indian based famous electronic gadgets brand boAt has raised $100 million (about Rs 731.6 crore) in funding from an affiliate of Warburg Pincus, a global private equity firm.
While boAt did not disclose the valuation at which the funds were raised, it said the fresh capital will enable it to further fortify its leading market position and widen its Research and development (R&D) capabilities and product portfolio.
The funding will also help build on boAt's efforts to create and support a manufacturing ecosystem under the Make-in-India initiative, a statement said.
The product portfolio of boAt includes headphones, earphones, smartwatches, speakers, travel chargers and premium cables.
Launched in 2016, boAt currently has approximately 150 employees on...