You are here: Home » Companies » News
Business Standard

Warburg Pincus puts $100 million in Indian consumer electronics firm boAt

US private equity firm Warburg Pincus has invested about $100 million in India's boAt, the consumer electronics firm said on Wednesday

Topics
Warburg Pincus | Boat | Consumer electronics

Reuters  |  BENGALURU 

boAT
boAT headphones | Photo: Company's Twitter handle

BENGALURU (Reuters) - U.S. private equity firm has invested about $100 million in India's boAt, the firm said on Wednesday.

BoAt, known for its budget-friendly bluetooth speakers and wireless earbuds, was last valued at nearly $283 million after a $59.6 million funding round in December, according to PitchBook data.

Personal electronics products like headphones have seen a revival in sales since the onset of the COVID-19 pandemic, with homebound users looking for means to aid their remote work and to keep themselves entertained.

During the third quarter of 2020, captured a market share of 32.4% in the earwear category in India, according to IDC data.

The company, whose products compete with JBL and Realme, had an annual revenue of 7.01 billion Indian Rupees ($95.86 million), as of March 2020.

 

(Reporting by Munsif Vengattil and Subrat Patnaik in Bengaluru; Editing by Krishna Chandra Eluri)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, January 06 2021. 08:02 IST
RECOMMENDED FOR YOU
.