Bose Acquires Stake in Smart Wearables Company Noise
Bose, the renowned consumer electronics company, has recently invested an undisclosed amount in Noise, a Delhi-based smart wearables brand, acquiring a minority stake in the direct-to-consumer (D2C) firm. This represents Noise's first external funding, signifying the end of its self-financed journey. According to Amit Khatri, Co-Founder of Noise, this investment is a part of a broader Series A funding round expected to be finalized soon. Khatri highlighted, "Noise holds a position among the top three global players, which naturally drew substantial attention from investors".
Khatri emphasized that despite changes in ownership, Noise maintains its established business approach. "Our partnership with Bose extends beyond financial support and brings strategic advantages", Khatri remarked. The collaboration is expected to aid Noise's global expansion by utilizing Bose's widespread global presence, although specific regions were not disclosed.
Furthermore, Khatri highlighted the strategic benefits of accessing Bose's research and development (R&D) capabilities, stating it will broaden Noise's scope. Bose's involvement is anticipated to accelerate innovation in the audio sector, bolster research and design efforts, and align with evolving consumer preferences in the Indian market, as announced by Noise. Expressing enthusiasm about the partnership, Khatri mentioned, "Bose's confidence in us validates our dedication to innovation, focusing on delivering cutting-edge technology for today's consumers. Partnering with Bose, given their technical expertise and global experience, will strengthen our capabilities and product range".
Established in 1964, Bose specializes in high-end audio products such as headphones, speakers and audio wearables. On the other hand, Amit and Gaurav Khatri founded Noise as a tech accessory company in 2014, transitioning to smart wearables in 2018. Noise sustained self-funding and profitability for nine years, achieving an impressive 126% revenue growth and a 7.35% profit increase in FY22. They aim for a revenue of Rs 850 crore by FY23 and plan to diversify into eyewear while expanding their offline presence.
