The gadget and wearables company Noise has successfully secured its first round of funding from the renowned global audio powerhouse, Bose. Previously self-funded, the Gurugram-based firm marks this as its significant Series A milestone.
Details of the financial investment by Bose remain undisclosed. However, Noise’s co-founder Amit Khatri emphasized the strategic collaboration beyond mere capital in a recent LinkedIn post. He highlighted the shared commitment to technological innovation, envisioning this partnership as a pivotal step in revolutionizing the smart wearables industry.
Noise’s product portfolio boasts an impressive array of around 35 distinct SKUs, including cutting-edge smartwatches, wireless earphones, and speakers. These products are available on various e-commerce platforms and the company’s dedicated website.
Recent data from the International Data Corporation (IDC) positions Noise as a formidable player in the wearables market. It held the second spot with a 13.5% market share and reclaimed its leadership in the smartwatch segment, boasting a significant 27.6% share in the first half of 2023.
The company’s financial trajectory reflects robust growth, with revenues soaring by 79.8% to Rs 1,426 crore in FY23, up from Rs 793 crore in FY22. This growth places Noise in direct competition with boAt, which continues to dominate India’s wearable space with a 26.6% market share during the first half of 2023.