InnoVen Capital recently invested Rs 25 crore in Consumer Electronics startup boAt (Imagine Marketing).
The boAt started out as a fashion brand in 2016 dealing with trendy consumer electronics. The product range has been expanded to include an extensive catalogue of premium headphones, earphones, wearable, speakers, travel chargers, and cables. All products are designed with listeners' preferences for both Indian music and electronic dance music.
Sameer Mehta, Co-Founder, boAt, said in a statement, “We are pleased to further strengthen our partnership with InnoVen Capital. We remain focused on delivering on our brand promise to our boAtheads.”
Ashish Sharma, CEO of Innoven Capital India, said in a statement: "BoAt is one of the high-performing companies in our portfolio, which has not only grown more than threefold since we started the relationship but managed to do that while being profitable. It's a perfect case study on how to build a new brand through superior customer insights, effective marketing, and relentless execution.”
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