Funding Alert

Noise, the smart wearables brand is eyeing the overseas market and is open to raising funds

• ByStartupStory     |    November 29, 2022

Smart wearables maker Noise is planning to take their model to nations which have an identical demography as India, said Co-founder Gaurav Khatri to ET. The brand was the reciepient Bootstrap Champ award on the Economic Times Startup Awards 2022 earlier this month. The firm has had “cold conversations” with buyers, Khatri mentioned, including that he wouldn’t draw back from raising funds to fuel their ambitions amid fast-paced development.

Founded in 2014 by Gaurav Khatri and his cousin Amit Khatri, the startup commenced enterprise by promoting cell phone accessories, however later pivoted to designing and promoting good wearables in 2018. Since then, it has seen multi-fold development in income. Noise recorded income of over Rs 800 crore in FY22.Khatri mentioned the corporate is at a present annual income run fee of Rs 2,000 crore in FY23.

“I would not deny that capital is needed,” he mentioned. “More important than capital, you need a partner who takes your thought processes to the next level and brings maturity to the business. You need much more governance, much more stability and a more corporate style of doing things.”

While Khatri didn’t disclose his plans regarding when they want to expand their market or which nations that the corporate would goal, he mentioned securing management within the Indian market would take priority earlier than venturing overseas.

“It is very difficult for me to comment on the time but what we see right now is India is the fastest growing market for the category that we are in and there are a lot of tailwinds,” he mentioned. “We want to be very sure about the market that we are already a leader of and want to have a sufficient share and ensure a stabilized share in the market.”

Noise faces stiff competition each from rival brands inside India and overseas. According to knowledge from Counterpoint Research, Noida-based Fire-boltt beat Noise to declare the highest spot within the Indian smartwatch market with a 27.7% market share within the second quarter (April-June) this 12 months, marginally beating Noise, which had a 26% share.

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