About
Qualcomm Ventures, the investment arm of wireless technology major Qualcomm Inc., has invested in consumer electronics maker boAt, the company said on Friday, without disclosing the financial details. The funding will help boAt expand its product portfolio across geographies and solidify its research and development (R&D) and manufacturing capabilities, the company said. ”The direct-to-consumer (D2C) startup has an 18% share in the true wireless stereo (TWS) market in India, according to Counterpoint Research data, followed by Mi at 16%, Realme at 12%, JBL at 8%, and Apple with 6% share of the market. At the time of Warburg’s investment, boAT said it would grow by 40% by the end of financial year 2021.
Mumbai