Gurugram-based gadget and wearables model Noise has secured its first-ever funding from world audio big, Bose, throughout its Series A spherical, introduced co-founder and chief govt Gaurav Khatri.
Noise co-founders — Amit Khatri (L) and Gaurav Khatri(LinkedIn/ Gaurav Khatri)
“Today, we celebrate a milestone moment: our first-ever strategic investment! Yes, you heard that right – After writing a successful playbook for the largest bootstrapped D2C brand over the years, we welcome Bose Corporation as our first investor in a Series A round of fundraising,” Khatri wrote in a LinkedIn submit with out disclosing the precise funding quantity obtained.
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“This isn’t just about funding; it’s about synergy: two tech giants, united by a passion for innovation, coming together to reimagine the future of smart wearables,” he mentioned.
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According to International Data Corporation (IDC) report, within the first half of this yr, Noise (Nexxbase) has claimed the second place general wearables, exhibiting a outstanding 61.6 per cent year-on-year development and securing a 13.5 per cent market share. Noise has reclaimed the highest spot in smartwatches, boasting a 27.6 per cent share and an 93.2 per cent year-on-year development. Additionally, it has ascended to the fourth place within the TWS phase, commanding a 6.6 per cent share and experiencing a 26.3 per cent year-on-year development.
It’s Noise Colorfit Icon 2, Colorfit Icon Buzz, and Colorfit Pulse Go Buzz collectively contributed to 39 per cent of its general shipments.
However, Noise witnessed a considerable lower in web revenue, plummeting to ₹88 Lakh in FY23 from ₹35.5 Cr within the earlier fiscal yr.
In distinction, the working income skilled a surge, rising to ₹1,426.5 Cr in FY23 in comparison with ₹792.8 Cr in FY22.
“This partnership is more than just a deal – it’s a vote of confidence in the power of an Indian brand that holds the potential to augment India as a global engine,” CEO Khatri mentioned.
Source: www.hindustantimes.com
