Bose Corporation, a global leader in audio technology, has deepened its footprint in India’s booming wearables and hearables market by investing ₹172 crore (approximately $20 million) in Noise, the fast-growing Indian wearable tech brand. This marks Bose’s second strategic investment in Noise, reaffirming its position as the brand’s sole external investor.
Fresh Capital Infusion to Accelerate Growth
As per recent regulatory filings with the Registrar of Companies (RoC), Noise’s board approved a special resolution to issue 4,915 compulsory convertible debentures (CCDs) priced at ₹3,45,833 each. These CCDs, which bear a nominal interest rate of just 0.001%, are designed to convert into equity at a later stage.
The newly raised capital will be utilized for scaling operations, expanding market reach, strengthening working capital, and funding strategic initiatives, indicating Noise’s aggressive plans for market leadership and innovation.
Noise and Bose: Strengthening Strategic Synergies
This latest investment follows the launch of an audio product featuring “Sound by Bose” technology, underlining the deepening partnership between the two companies. The collaboration aligns both brands in delivering premium audio experiences tailored for Indian consumers.
Noise Reports Strong Financials in FY24
In the fiscal year ending March 2024, Noise posted revenue of ₹1,431 crore and achieved EBITDA profitability, a significant milestone that highlights its strong operational efficiency and sustained growth trajectory in a competitive sector.
India’s Smartwatch Leader Eyes Bigger Market Share
Noise remains a market leader in India’s smartwatch segment, offering a wide range of smartwatches, wireless earbuds, and portable speakers through its website and popular e-commerce platforms. The latest capital infusion is expected to support further product innovation, supply chain expansion, and brand-building efforts across India and potentially in international markets.
Competitive Landscape: boAt Prepares for IPO
Meanwhile, rival brand boAt is preparing for its initial public offering (IPO) and has confidentially filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). boAt ended FY24 with ₹3,122 crore in revenue and significantly reduced its net loss by 45% to ₹53.5 crore, intensifying competition in the wearables sector.