boAt is making history by becoming India's first D2D brand going for an IPO.

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Orgin

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When the boAt started, its founding team's mission was very clear - sell high-quality audio products at affordable prices and create a community using their userbase.

With this IPO, BoAt will join an exclusive club of profitable and public Indian startups.

When BoAt started in Even 2016, there was dense competition in the consumer electronic segment; the legacy players weren't listening to the consumer and they were selling bland designs and lacked several key functionalities that their users desired.

The BoAts founding team listed their potential audience from the beginning. They took customer obsessions as the core mantra.

‍boAt initially started its journey with connecter cables, targeting Millenials and Gen-Z audiences.

From the beginning, the boAt team focused on consumers. Based on consumer demands, Boat iterated and expanded its product line.👋 From the beginning, Boat followed a D2D model; during that time, this was unorthodox for a small consumer electronics brand.👋 Boat products didn't compete on price. They focused on delivering quality and were priced in the middle range.👋 Boat saw itself as a lifestyle brand, this was evident in branding and product design from day one.👋 They listened to the need of Indian consumers and designed products specifically for them, Eg:earphones with high bass.

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Current story

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With a growing overall Indian wearable market and the right product line, Boat team quickly scaled their sales.

Currently, Boat is the 5th largest wearables brand globally.

In FY21, boAt generated a revenue of INR 1,500 Cr while posting a profit of INR 78.6 Cr.

Boat has raised capital of $116 Mn in 6 funding rounds from investors, including Warburg Pincus, Qualcomm Ventures, Fireside Ventures, InnoVen Capital and others

‍boAt's IPO will be a historic moment for the Indian startup ecosystem. Kudos and Best wishes to Sameer Mehta and Aman Gupta, Lead the way 🥂.