Consumer electronics startup Indkal Technologies bags $20M funding
Indkal’s new capital will fund R&D, strengthen sales and service, expand Wobble Displays’ product portfolio, introduce new display categories, and develop after-sales infrastructure and marketing activities.
Consumer electronics company Indkal Technologies has secured $20 million in a Series B bridge funding round led by existing investors to support the growth of its brand, Wobble Displays.
The company will allocate the fresh capital for research and development, improvements in the sales and service network, and the expansion of Wobble Displays’ product portfolio, besides introducing new display categories, development of after-sales infrastructure, and marketing activities related to the brand.
Indkal will continue its association with Ayushmann Khurrana as brand ambassador for Wobble. His involvement is expected to support the introduction of the brand’s new range of televisions and interactive displays, the company said in a statement on Tuesday.
Wobble Displays will be introduced in televisions and interactive displays positioned in the high-end segment. With this funding, the company launched the Maximus series, which includes a 116.5-inch screen. It also introduced 98-inch and 86-inch models as part of its large-format display range.
“This round is a significant milestone in our journey with Wobble Displays. The investment… provides the strategic impetus to accelerate innovation, scale our service ecosystem, and create products that redefine home entertainment and business utility for Indian consumers,” said Anand Dubey, CEO of Indkal Technologies.
Prior to this, the Bengaluru startup had raised $36 million in a Series A funding round in June last year.
Indkal began by licensing the Acer trademark for televisions and later for washing machines, a less expected category for a brand better known worldwide for computing products. The washing machines were developed in-house by Indkal’s research and development team and designed specifically for Indian households.
In a recent conversation with YourStory, Dubey spoke about the company's plans, which includes entering the smartphone space with two new 5G devices conceptualised and engineered in India.
Edited by Suman Singh