With Bose’s worldwide reach and its research and development resources, Noise hopes to use the funding to expand into new foreign markets.
Bose, a consumer electronics business, has acquired a minority position in Delhi-based direct-to-consumer (D2C) brand Noise through an undisclosed capital investment in smart wearables.
With this funding, Noise completes its journey of bootstrapping and receives its first external financial infusion.
According to co-founder of Noise Amit Khatri, the financing is a part of a bigger Series A funding round that is anticipated to strengthen shortly, as YourStory reported. “Noise is one of the top three players globally and is a profitable, fundamentally sound company. Of course, investors are interested, according to Khatri.
Regarding the change from a company that was bootstrapped to one that was funded, Khatri stated that nothing had changed except for the ownership structure. Regarding our conduct in business, we have not changed. In addition to being a financial commitment, the alliance with Bose offers other strategic advantages, Khatri continued.
Without naming the specific locations, Khatri stated that Noise is anticipated to be able to expand internationally through the cooperation by taking advantage of Bose’s global reach.
According to Khatri, the strategic investment will open up new opportunities for Noise and provide it with access to Bose’s research and development (R&D) skills.
Additionally, Noise said on Monday that Bose’s participation may support research and design efforts, promote innovation in the audio industry, and adapt to changing customer preferences in the Indian market.
“Our unwavering drive of innovation to produce breakthrough technology for today’s consumer is validated by Bose’s conviction in us. We are thrilled to collaborate with a business like Bose, whose technological know-how and worldwide reach will enable us to improve our services and expand our capabilities,” Khatri continued.
Bose was established in 1964 and is a leading provider of high-end audio goods and services, such as speakers, headphones, and wearable audio devices.
Noise was founded in 2014 by Amit and Gaurav Khatri as a tech accessories startup, then in 2018 they switched to making smart wearables. For nine years, the business was profitable despite being bootstrapped.
Noise recorded a 126% increase in revenue and a 7.35% increase in profit for the fiscal year 22. The business has stated that it plans to increase its physical presence and join the spectacles market, with a target revenue of Rs 850 crore by FY23.
Nicholas Smith, Senior Vice President of Strategy and Business Development at Bose, commented on the investment, saying, “Investing in Noise became an obvious choice as we looked at the opportunity to reach more people with the benefits of our technology in India.” Their market knowledge and competence in the wearables space will enable us to work together to introduce new, distinctive products to a growing consumer base.
