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boAt raises ₹50 cr from Qualcomm Ventures to focus the global market

By VARINDIA - 2021-04-18

boAt raises ₹50 cr from Qualcomm Ventures to focus the global market

boAt, New Delhi-based consumer electronics brand focusing into wearables market, has raised Rs 50 crore from Qualcomm Ventures. This is the second fundraising done by boAt in the last 4 months. Founded by Sameer Ashok Mehta & Aman Gupta. The website through which they cater is known as boatlifestyle.com.

 

BoAT; has received raise from a company which is the world class leader in wireless technologies; Qualcomm Ventures. The news came out on Friday and is predominantly ruling the wireless segment as this could be the new pathway that company would presumably follow for its upcoming span.

 

The company also raised $100 million from Warburg Pincus in 2021. Experts predict that boAt will double its revenue in FY2021. The startup is observing a surge in its order value during the pandemic. Sources said, boAt is continuously strengthening its operations worldwide.

 

Sameer Mehta, co-founder boAt said that, “Qualcomm is a world leader in wireless technologies and we have a shared vision of building world-class products for India and the world. As boAt enters the next phase of growth and innovation, we look forward to building a relationship with Qualcomm to deepen our R&D capabilities and further augment our efforts to manufacture products in India”.


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