Indian consumer electronics firm boAt gets USD 100 million from Warburg Pincus; Here is what you need to KNOW about Co
U.S. private equity firm Warburg Pincus has invested about $100 million in India`s boAt, the consumer electronics 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.
See Zee Business Live TV Streaming Below:
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, boAt 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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
08:59 AM IST