Qualcomm invests Rs.50 crores in Indian Audio Brand boAt. They have announced, that they have invested an amount of Rs. 50 crore. It is a part of a funding round that includes $100 million from private equity firm Warburg Pincus.
Commenting on this Rajen Vagadia, Vice President and President of Qualcomm India said, “India is one of the world’s largest consumer markets, with untapped potential. Qualcomm Ventures’ investment in boAt is one of the many steps we are taking to reinforce India’s twin missions of Atmanirbhar Bharat (a self-reliant India) and Make-in-India-for-the world, by enabling cutting edge technology innovation and R&D in India. boAt is a recognized brand and a leader in audio, wearable, and consumer lifestyle products. As a technology enabler and an investor with a long-standing presence in India, we look forward to being part of boAt’s growth and powering its vision of delivering world-class products to consumers, not just for India but for supporting their vision of global expansion,”
With this venture, we can expect that boAt should utilize it with Qualcomm’s chip contributions for remote earphones and likely likewise use the aptX codec that Qualcomm makes for sound items. Qualcomm Ventures had made this investment which is Qualcomm’s endeavor arm. They had also recently launched a new smartwatch too, which is the Boat Xplorer watch. To know more about the watch, you can click on the link mentioned below-
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