Bose invests $10 Mn into Noise
By MYBRANDBOOK
Noise has been a key player in the India's werables segment, promoted by Gaurav Khatri, co-founder. Noise’s first-ever funding is a significant milestone for India’s largest profitable D2C business.
Bose, a global pioneer in consumer electronics and audio, has invested $10 million in homegrown consumer electronics brand Noise, taking its valuation to
around $460 million or Rs 3,820 crore.
With this investment, Bose Corporation has acquired a 2.17% stake in the company. Amit Khatri diluted his stake to 53.44% while Gaurav Khatri’s stake stands at 36.23%. The firm also has an ESOP Pool of 7.25%.
Amit Khatri, Co-Founder, Noise, said last week that the strategic alliance with Bose will be a pivotal juncture in their journey towards revolutionising the future of smart wearables realm.
“We are excited to partner with a company like Bose whose technical expertise and global experience will help us augment our capabilities and elevate our offerings,” he added.
Noise sells smartwatches, wireless earphones and speakers through e-commerce platforms and its own website. The company controls 27.6% market share in the smart watch category in the first half of 2023 and it competes with brands including boAt, Fire-Boltt, and MI, among others.
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