Gurugram-based audio products and wearable startup Noise has bagged a strategic investment from global consumer electronics and audio giant Bose as part of its Series A round.
With this, the startup, which was bootstrapped so far, has raised its first ever funding.
Founded by Amit Khatri and Gaurav Khatri in 2014, Noise initially started by selling smartphone cases and accessories. Later, it pivoted to selling smart wearables and wireless headphones. The startup competes with Aman Gupta’s boAt and several others.
Noise, in a statement, said that the strategic collaboration will increase innovation in the audio space and strengthen its research and design.
“It’s about the right partnership at the right time, and we firmly believe that our strategic alliance with Bose will be a pivotal juncture in our journey towards revolutionizing the future of smart wearables realm,” said Amit Khatri, cofounder of Noise.
In September this year, Noise also entered a joint venture with Il Jin Electronics, a subsidiary of Amber Enterprises India, to boost its manufacturing of smart wearables in India.
The startup sells its products on its website and other online marketplaces such as Amazon and Flipkart.
“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,” said Nicholas Smith, senior vice president, strategy and business development at Bose.
“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,” Smith added.
In FY23, Noise reported a 39.4X year-on-year decline in its net profit to INR 88 Lakh. However, its sales revenue jumped 1.8X to INR 1,426.5 Cr in FY23.
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