Qualcomm Invests Rs 50 Crores in Indian Audio Brand boAt
Apr. 16, 2021The company did not reveal much about the investment from Qualcomm. However, as per reports, the amount of investment is speculated to be Rs 50 crores (~$6.7 million). boAt plans to utilize this funding to develop next-gen audio and lifestyle products for the Indian market.
“As boAt enters the next phase of growth and innovation, we look forward to building a relationship with Qualcomm to deepen our R&D capabilities and further augment our efforts to manufacture products in India,”said Sameer Mehta, the co-founder of boAt.
So, with the recent investment from Qualcomm, boAt will continue todevelop high-quality audio and lifestyle accessoriesto cater to the middle-class consumers in India.
The company, apart from selling Bluetooth speakers and TWS earbuds at affordable price points, also launchedits first smartwatch at Rs 1,999 (~$27)last year. Further, as per our earlier reports, boAt also aims to venture into the gaming-accessory market to compete with other budget-centric brands in India.
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