Global consumer electronics firm Bose acquires minority stake in smart wearables brand Noise
The investment is expected to help Noise enter various international geographies using Bose’s global presence, as well as leverage Bose’s research and development capabilities.
Consumer electronics company Bose has invested an undisclosed amount of funding in smart wearables brand, acquiring a minority stake in the Delhi-based direct-to-consumer (D2C) brand.
The funding marks Noise’s first-ever external capital infusion, marking the end of its bootstrapped journey.
The funding is part of a larger Series A funding round, which is expected to fortify soon, Amit Khatri, Co-founder of Noise, told YourStory. “Noise is a fundamentally solid and profitable organisation and stands among the top three players around the world. Naturally, there’s good investor interest,” Khatri noted.
Speaking of the transition from a bootstrapped to a funded company, Khatri said that other than the ownership structure, nothing has changed. “We are still the same as we were in terms of business behaviour. The partnership with Bose is not just a monetary investment but has a lot of strategic benefits,” Khatri added.
The partnership is expected to help Noise enter international geographies by leveraging Bose’s global presence, Khatri said, without mentioning names of the regions.
The strategic investment will also offer Noise access to Bose’s research and development (R&D) capabilities, according to Khatri, who added that the investment will open up horizons for Noise.
Moreover, Bose’s involvement could help drive innovation in the audio space, further strengthen research and design, and meet the evolving consumer preferences in the Indian market, Noise announced on Monday.
“Bose’s belief in us validates our relentless pursuit of innovation, aimed at delivering transformative technology for today’s consumer. 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,” Khatri added.
Founded in 1964, Bose specialises in premium audio products and services including headphones, speakers, and audio wearables.
Amit and Gaurav Khatri built Noise as a tech accessory company in 2014 and pivoted to smart wearables in 2018. The company was bootstrapped and profitable for nine years.
In FY22, Noise reported a 126% growth in revenue and a 7.35% rise in profit in FY22. The company had said it is targeting a revenue of Rs 850 crore by FY23 and planning to enter the eyewear and expand its offline presence.
Speaking of the investment, Nicholas Smith, Senior Vice President of Strategy and Business Development at Bose, said, “As we looked at the opportunity to reach more people with the benefits of our technology in India, investing in Noise became an obvious choice. Their leadership in the wearables category and understanding of their customers will allow us to collaborate and bring new, differentiated products to a growing market.”
Edited by Megha Reddy