New Delhi, Dec 25: Bose, a global pioneer in consumer electronics and audio, has invested $10 million in homegrown consumer electronics brand Noise, taking its valuation to nearly $426 million.
Noise’s first-ever funding was part of the Series A round, where it allowed 2,400 Series A preference shares to Bose, according to its regulatory filings.
With this strategic investment, Bose will have 2.17 per cent stake in the company, according to reports.
Noise’s first-ever funding is a significant milestone for India’s largest profitable D2C business.
Amit Khatri, Co-Founder, Noise, said last week that the strategic alliance with Bose will be a pivotal juncture in their journey towards revolutionizing the future of smart wearable realm.
“We are excited to partner with a company like Bose whose technical expertise and global experience will help us augment our capabilities and elevate our offerings,” he added.
In just less than five years of its inception, Noise has opened doors to myriad opportunities that smart wearable bring, helping unlock the potential of human excellence.
Currently, a global leader in wearable tech, Noise is the No 2 TWS brand in India. Noise has also been recognized as India’s No 1 Smartwatch Brand for 13 consecutive quarters, as per IDC Worldwide Wearable Device Tracker.
(IANS)
