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Noise valuation stands at $460 Mn after $10 Mn funding from Bose
Entrackr
ยท
1y ago
Medial
Gadgets and wearables brand Noise has secured $10 million in strategic funding from audio giant Bose, marking its first-ever raise after a decade. Regulatory filings reveal that Noise issued 2,400 Series A convertible preference shares at an issue price of INR 3,45,833 ($4,610) per share, resulting in a post-money valuation of around $460 million. Following this investment, Bose Corporation now holds a 2.17% stake in Noise, while founder Amit Khatri's stake has been diluted to 53.44%. Noise, known for its smartwatches and wireless earphones, has a 27.6% market share in the smartwatch category in H1 2023.
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Bose doubles down on Noise with $20 Mn investment
Entrackr
ยท
4m ago
Medial
Exclusive: Bose doubles down on Noise with $20 Mn investment The board at Noise has passed a special resolution to issue 4,915 compulsory convertible debentures at an issue price of Rs 3,45,833 each to raise Rs 172 crore or $20 million. After entering the Indian wearables and hearables space with a strategic investment in Noise in 2023, Bose Corporation has made a fresh investment of Rs 172 crore ($20 million) in the gadget and wearable brand. This marks the second funding round for the Gurugram-based company since its inception. The board at Noise has passed a special resolution to issue 4,915 compulsory convertible debentures at an issue price of Rs 3,45,833 each to raise Rs 172 crore or $20 million, its regulatory filing sourced from the Registrar of Companies (RoC) shows. The issued debentures will carry a nominal interest rate of 0.001% and will eventually be converted into equity shares at a later stage. The company plans to utilize the funds to cover operational expenses, expand, enhance brand visibility, meet working capital needs, and support other business activities as approved by the board, the filing added. According to Entrackrโs estimates, the latest investment comes in as a flat round, valuing the company at $470 million โ a slight uptick from its Series A valuation of $460 million. For the uninitiated, Bose is the only external investor in Noise. Noise sells smartwatches, wireless earphones, and speakers through e-commerce platforms and its own website. The company also holds a major share of the smartwatch market. The fresh investment from Bose follows a major product milestone: Noiseโs launch of an audio device powered by โSound by Bose.โ Noise reported a revenue of Rs 1,431 crore with EBITDA profitability for the fiscal year ending March 2024. It competes with the consumer electronics brand boAt, which recently filed DRHP with the Securities Exchange Board of India under the confidential route. boAt reported Rs 3,122 crore of revenue during FY24 with a 45% reduction in losses to Rs 53.5 crore in the same period.
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Wearables brand Noise raises $20 million from Bose Corp
Economic Times
ยท
4m ago
Medial
Homegrown wearables brand Noise raised $20 million from Bose Corporation, marking their second funding round since inception. Previously, Bose invested $10 million in 2023, valuing Noise at around $420 million. Despite a reported net loss of Rs 20 crore in FY24, Bose reinvested to help Noise scale and innovate. The brand, leading in the smartwatch category, contends with competitors like Boat and Boult amid a slowdown in India's wearable device shipments.
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Bose headphones and earphones will keep you engrossed in the tunes and rhythm
Livemint
ยท
1y ago
Medial
Bose is a renowned brand known for its high-quality headphones and earphones. In this article, we look at the top five models from Bose, each offering unique features to suit different preferences and lifestyles. The models include over-ear headphones with advanced noise cancellation, wireless earbuds with personalized sound, and open-ear headphones that allow for situational awareness. We also discuss the best value for money option and the overall best Bose headphones. The article provides tips on how to choose the best Bose headphones or earphones based on factors such as noise cancellation, audio quality, battery life, comfort, and additional features.
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Audio wearable peers Noise and boAt clock flattish growth in FY24
YourStory
ยท
8m ago
Medial
Audio wearables brands boAt and Noise reported modest growth in their revenue for FY24. Noise, backed by Bose, recorded an operating revenue of INR 1,430.8 crore, slightly higher than the previous year. boAt, led by Aman Gupta, generated INR 3,117.6 crore in revenue, which represented a 7.6% decline compared to the preceding year. Meanwhile, Noise incurred a loss of INR 20 crore, whereas boAt managed to reduce its losses from the previous year. boAt is currently preparing for an IPO, aiming for a valuation of $1.32 billion.
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boAt rival Noise raises funding for the first time from giant Bose!
Inc42
ยท
1y ago
Medial
Gurugram-based audio products and wearables startup Noise has raised its first-ever funding with a strategic investment from consumer electronics giant Bose as part of its Series A round. Noise, which initially sold smartphone cases and accessories before pivoting to smart wearables and wireless headphones, aims to strengthen research and design through the collaboration. Noise also partnered with Il Jin Electronics to boost smart wearables manufacturing in India. Despite a decline in net profit for FY23, Noise reported a significant increase in sales revenue.
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Zepto mops up another $350 mn in an entirely domestic funding round
VCCircle
ยท
8m ago
Medial
Indian quick commerce startup, Zepto, has raised $350 million in its latest funding round from domestic investors, including family offices and financial institutions. The funding brings Zepto's total capital raised to over $1.35 billion. Notable participants in the round include Motilal Oswal AMC, Abhishek Bachchan, and Sachin Tendulkar. Zepto operates a network of micro-warehouses to deliver groceries and essentials to customers in minutes. The company previously raised $340 million in a funding round led by General Catalyst. Zepto's valuation now stands at $5 billion.
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Eruditus In Talks To Raise $150 Mn At $2.3 Bn Valuation
Inc42
ยท
11m ago
Medial
Eruditus is in discussions to secure $150 million in funding from TPG at a potential valuation of $2.3 billion. This valuation is lower than their previous valuation of $3.2 billion in August 2021. The funding is contingent on Eruditus meeting certain performance targets, and if not met, their market capitalization could decrease to $1.8 billion. Eruditus offers professional upskilling courses and recently entered the unicorn club after raising $650 million from various investors.
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Bose-Backed Noise Acquires SocialBoat To Develop AI For Wearables
Inc42
ยท
1y ago
Medial
SocialBoat, a company founded in 2022, aimed to use AI technology to address issues pertaining to menstrual health, PCOS, and thyroid. However, one of its founders, Swapnil Vats, will now be taking charge of Luna Ring at Noise. The latter had previously received a strategic investment from Bose, a well-known global consumer electronics and audio company.
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Cashfree to expand cross-border payments after $53 mn funding | Company Business News
Livemint
ยท
6m ago
Medial
Cashfree Payments, backed by Krafton and Apis Growth Fund II, raised $53 million, elevating its valuation to $700 million. The company plans to expand its cross-border payment services, focusing on customer experience, merchant interaction, and payment infrastructure. CEO Akash Sinha noted plans to expand in the Middle East via Telr, a firm they acquired in the UAE. International revenue stands at 10-15%, serving as a โbooster,โ with no immediate IPO plans.
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NVIDIA-backed Cohere lays off 5% of staff after $500 mn fundraise
Times Now
ยท
1y ago
Medial
AI startup Cohere is laying off around 20 employees, equivalent to roughly 5% of its workforce. This comes after the startup raised $500 million in funding at a valuation of $5.5 billion, more than double its valuation from June 2023. AMD, Salesforce, Oracle, NVIDIA and Canadian pension investment manager PSP Investments were among the investors that participated in the funding.
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