Delhi-Based Consumer Electronics Startup ‘boAt’ Raises Rs 440 crore In Series B Funding

boAt, a consumer electronics startup, has raised Rs 440 crore in its Series B round from Cayman Islands-based South Lake Investment Limited.

This is the largest investment in boAt till date. The Delhi-based startup had previously raised Rs 25 crore in September from Venture debt firm InnoVen Capital and around Rs 16 Cr in July 2019.

Also, the consumer electronics startup had picked up Rs 20 crore in debt from Sachin Bansal’s Navi Technologies (previously BAC Acquisitions).

Started in 2016, the portfolio of boAt includes headphones, earphones, earbuds, speakers, travel chargers and premium cables. The Delhi-based startup also forayed into the wearable segment with the launch of its smart band in November.

With a presence in more than 5,000 retail stores, boAt sells its product through e-commerce platforms such as Amazon and Flipkart alongside its own platform.

boAt claims to have registered gross revenue of over Rs 500 crore in FY20 and targets to double the topline by FY24.

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