Bengaluru-based Consumer Electronics Startup Raises Rs 300 crore

The company recently announced entry into the fast-growing smart wearable space and launched Wobble, its own brand of wearable and audio products.
Bengaluru-based Consumer Electronics Startup Raised Rs 300 crore

Bengaluru-based Consumer Electronics Startup Raised Rs 300 crore. Representational Image Source: CanvaPro

A Bengaluru-based startup which operates in consumer electronics Indkal Technologies recently secured Rs 300 crore in a funding round. The company is one of the largest trademark licensing companies in the consumer electronics sector in India. It manufactures consumer electronics and large appliances for some global brands like Acer and Black+decker.
The Series A funding round was led by Mauritius-based Aries Opportunities Fund. However, the company founded in 2020, has not disclosed the valuation on which the funds were raised. Indkal Technologies CEO Anand Dubey said the latest infusion would help the company grow and develop infrastructure of products. "We needed to invest in product development. Locally being able to make better products which are more localised are more suited for Indian consumers and their needs in consumer electronics and durables, and that became a big part of why we raised investment," said Dubey.
The company is expanding to set up its support functions. "We will be utilising the funds to improve product development infrastructure. We will be setting up a large research & development infrastructure very soon, and a big part of the investment is going to go there. Along with that, we will be bulking up on distribution and service to make sure that we reach our customers with our products and then we are able to service them efficiently," he added.
It also recently announced entry into the fast-growing smart wearable space and launched Wobble, its own brand of wearable and audio products.
End of Article
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