Audio products maker boAt today said it has raised Rs 6 crore from Fireside Ventures and will use the funds towards marketing and product development.
The Delhi-based firm, which began operations in 2016, said it has seen strong growth in sales of audio products and accessories like charging cables.
"The funding will help us in expanding our portfolio and invest more in marketing," boAt co-founder Sameer Mehta told PTI.
He added that the company will add home audio products like sound bars and speakers to its catalogue next quarter.
He, however, declined to comment on the valuation of the company.
For the fiscal ended March 2017, the company's revenues stood at Rs 27 crore. boAt, however, did not disclose numbers for FY2017-18 as these are under audit.
Mehta said the company is also focussing on expanding its presence in offline retail.
"We had started as online only and gradually started with offline. We have partnered Croma and will look at similar partnerships to expand our reach in the Indian market," he said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app