Technology has consistently tried its best to make things more easier & simpler. Therefore ; we started from transistors and now are demanding wireless even for listening to music. These demands have been very well catered by the companies that brought connectivity & cost-effectiveness under one roof.
One such very popular Indian consumer electronics brand BoAT; has received raise from a company which is the world class leader in wireless technologies; Qualcomm Ventures. The news came out on Friday and is predominantly ruling the wireless segment as this could be the new pathway that company would presumably follow for its upcoming span.
For more information; let’s get inside.
MORE ABOUT RAISE
According to boAt ; the amount of Rs. 50 crore would be utilized to create more innovative products and make them accessible to geographies that are still untapped.
Company’s co-founder Sameer Mehta said that “Qualcomm is a world leader in wireless technologies and we have a shared vision of building world-class products for India and the world. 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”.
Qualcomm India Private limited also underlined the fact that India’s consumer markets cannot be ignored especially when the country is focussing on becoming more self-reliant. Rajen Vagadia; VP of the group said that this investment will allow to achieve the country’s goals in sync with the delivery of best consumer lifestyle products. It will help the company to keep an eye on global expansion.
BACKGROUND OF BOAT
It is an Indian brand in the domain of consumer electronics established in the year 2016 that offers an extensive range of headphones, earphones, speakers, travel chargers and cables. It was founded by Sameer Ashok Mehta & Aman Gupta. The website through which they cater is known as boatlifestyle.com.
It is one among those brands that have significantly created a space in global territories. It has occupied the position of being the fifth largest wearable brand across the globe. In the year 2021; they entered into the segment of smartwatches and introduced 20 more additional products in the audio category.
MORE ABOUT QUALCOMM VENTURES
It is a constituent of Qualcomm Incorporated set up in California. The company has a portfolio of more than 120 ventures across the globe that focus only on technological fields like Virtual reality, Internet Of things, Drones, Automotive, Cloud and Mobile Health. Magic Leap, Ring and Zoom are some of their investments.
After Make In India; the country has witnessed a growth in the consumer electronics segment due to which the growth rate it currently offers stands at 18.6%. People have started to adopt more innovative technologies.
We have the highest number of consumers; but this time what’s more important is that we are able to cater to those consumers through our home made wireless brands like BOAT.