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Boat Closes $60-Million Funding From Warburg And Malabar Investments

Boat Closes $60-Million Funding From Warburg And Malabar Investments

10/28/22, 7:02 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/IN.svgnew delhi
Industry
consumer electronics
audio
Direct-to-consumer (D2C) audio products and wearables brand Boat has closed a $60-million, or about Rs 500-crore, financing through convertible preferred stocks notes from existing investor Warburg Pincus and new investor Malabar Investments, and has formally withdrawn its listing plans.

Company Info

Company
Boat
Location
new delhi, delhi, india
Additional Info
boAt set its sail back in 2016. Both our founders, Aman Gupta and Sameer Mehta, realized the massive gaps in the audio and wearable market of India and hence founded boAt with the vision of making fashion meet the world of consumer electronics. Five years down the road, boAt has become a crucial part of cultural conversations for the younger generation, lifestyle influencers, audiophiles, and a lot of many segments. boAt has hence become an advocate of self-expression, adventurous experiences, and exploration all the way. Driven by a blazing passion for music and an instinct for innovation, boAt intends to deliver more than just a product to its community. Today, boAt is the world's 5th largest wearable brand along with India’s No.1 Earwear brand. This account is a sneak peek into the feisty world of boAt - its showrunners, hustle, culture and beyond.

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