Other Private Equity/Strategic Investments
Wearables, smart watches maker Noise raises $20-M from Bose Corp
Gurugram-based smartwatch and connected lifestyle brand Noise has raised INR 172 crore (USD 20 million) from audio systems maker Bose Corporation. The company is to issue 4,915 compulsorily convertible debentures (CCDs) at an issue price of INR 3,45,833 each to raise the sum.The debentures will carry an interest rate of 0.001% and will eventually be converted into equity shares. The company plans to use the funds to cover operational expenses, expand, enhance brand visibility and meet working capital needs.Noise sells smartwatches, wireless earphones, and speakers through e-commerce platforms and its own website.
In Dec 2023, Noise had attracted USD 10 million from Bose Corporation.For FY24, Noise had reported about INR 1,439 Cr in Operating Income and about INR 20 Cr in Net loss.
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