boAt raises $100 million in funding from Warburg Pincus

Mumbai: New York-based private equity fund Warburg Pincus has invested $100 million in boAt for a significant minority stake, the earwear audio brand said, without sharing its current valuation or the quantum of equity dilution.

A source, familiar with the deal details, pegged boAt’s valuation at around ₹1,600- 1,800 crore. Fireside Ventures, an early-stage investor that chipped in ₹6 crore in 2018, sold part of its holding, a senior company executive said.

The company will use the capital to invest in R&D and to set up local manufacturing, said Aman Gupta, co-founder and CMO, boAt.