Bose invests in homegrown audio & wearables brand Noise's maiden fundraise

Noise said Bose’s strategic funding is part of its Series A round, but did not divulge more details

Update: While Noise had not revealed details of the deal on December 18, a week later, regulatory filings showed that Bose has picked a 2.4 percent stake in Noise for around $10 million (Rs 82.9 crore) which values the Gurugram-based startup at about $410-420 million. 

Roughly 10 years after it was incorporated, Noise, the homegrown audio and wearables company, announced that it has raised money from Bose and is no longer a bootstrapped company.

Noise said Bose’s strategic funding is part of its Series A round, but did not divulge more details. Strategic funding generally means the incoming investor will help a business grow over time, take its products to newer geographies and also help in product innovation.

With that in mind, US-based Bose could even take Noise’s products to all countries around the world thanks to its supply chain capabilities, giving the Gurugram-based company a fillip.

“This isn't just about funding; it's about synergy: two tech giants, united by a passion for innovation, coming together to reimagine the future of smart wearables,” Gaurav Khatri, CEO and co-founder of Noise, said on LinkedIn.

“Think premium-segment products, cutting-edge tech, and a commitment to democratising the best possible experience… We're talking about unlocking new markets, pushing boundaries, and making some serious Noise in the world,” Khatri’s post added.

Bose, which has been in the market since 1964, manufactures its own devices and other audio solutions, which could augur well for Noise.

While Noise’s bootstrapped journey propelled it to prominence in the Indian smart wearables domain, the alliance with the global leader in audio excellence will help it augment India, the co-founders said.

Noise competes directly with Boat, which has raised money from Warburg Pincus, Qualcomm Ventures, Fireside Ventures and others. Sony, OnePlus, Fireboltt, Portronics, Jabra and others also compete in the same space.

“As we looked at the opportunity to reach more people with the benefits of our technology in India, investing in Noise became an obvious choice,” said Nicholas Smith, Senior Vice-President, Strategy and Business Development at Bose.

“Their leadership in the wearables category and understanding of their customers will allow us to collaborate and bring new, differentiated products to a growing market.”

Noise saw its profits decline to Rs 88 lakh in FY23 from Rs 36 crore in FY22. Its revenues, however, increased from Rs 793 crore in FY22 to Rs 1,427 crore in FY23.