Delhi NCR-based startup Noise, specializing in audio and wearable technology, has secured a significant valuation boost, reaching approximately $426 million (INR 3,541 Cr) after a successful Series A funding round featuring audio giant Bose. This marks the first time Noise’s valuation has been disclosed, as the startup operated as a bootstrapped entity prior to this funding injection.
The regulatory filings accessed by Inc42 reveal that Noise raised close to $10 million (INR 82.9 Cr) through the allotment of 2,400 Series A preference shares to Bose. Inc42 estimates suggest the valuation reached $426 million, and clarification on this figure is sought from Noise’s co-founder, Gaurav Khatri.
Following the conversion of the Series A preference shares, Bose will hold a 2.17% stake in Noise, marking a significant partnership between the audio giant and the emerging startup. This investment signifies Bose’s inaugural foray into supporting an Indian company.
Cofounder Amit Khatri expressed optimism about the collaboration, stating, “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.”
Noise envisions the collaboration with Bose as a catalyst for innovation in the audio space, enhancing its research and design capabilities. In addition to this funding, Noise had previously entered a joint venture with Il Jin Electronics, a subsidiary of Amber Enterprises India, to boost the manufacturing of smart wearables in India.
Founded by Amit and Gaurav in 2014, Noise initially focused on selling smartphone cases and accessories but later shifted its emphasis to smart wearables and wireless headphones. The startup competes with industry players like boAt, led by Aman Gupta.
Noise’s products, spanning audio and wearables, are currently available on its website and various online marketplaces, including Amazon and Flipkart.
In the fiscal year 2023, Noise reported a noteworthy over 97% year-on-year decline in net profit to INR 88 Lakh. However, the sales revenue witnessed a substantial 1.8X YoY surge, reaching INR 1,426.5 Crores.
