Delhi NCR-based audio and wearable startup Noise is now valued at about $426 Mn (or INR 3,541 Cr) post its Series A fundraise from audio giant Bose. This is the first time Noise’s valuation has been revealed as the startup was bootstrapped before this funding round.
As per the startup’s regulatory filings accessed by Inc42, Noise has raised close to $10 Mn (INR 82.9 Cr) by allotting 2,400 Series A preference shares to Bose.
As per Inc42 estimates, the startup raised the fresh funding round at a valuation of about $426 Mn. We have reached out to cofounder Gaurav Khatri for clarification on the valuation. The story will be updated on receiving a response.
Post the conversion of the Series A preference shares, Bose will hold 2.17% stake in the company.
This is possibly the first investment by Bose in any Indian company. While announcing Bose’s investment, Noise cofounder Amit Khatri said, “It’s about the right partnership at the right time, and we firmly believe that our strategic alliance with Bose will be a pivotal juncture in our journey towards revolutionizing the future of smart wearables realm.”
Noise said that the strategic collaboration will increase innovation in the audio space and strengthen its research and design.
In September this year, Noise also entered a joint venture with Il Jin Electronics, a subsidiary of Amber Enterprises India, to boost manufacturing of its smart wearables in India.
Founded by Amit and Gaurav in 2014, Noise initially started by selling smartphone cases and accessories. However, it pivoted to selling smart wearables and wireless headphones. The startup competes with Aman Gupta’s boAt and several others.
It currently sells its audio and wearable products on its website and other online marketplaces such as Amazon and Flipkart.
In FY23, Noise reported over 97% year-on-year (YoY) decline in its net profit to INR 88 Lakh. However, sales revenue jumped 1.8X YoY to INR 1,426.5 Cr.
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