Consumer audio brand boAt gets commitment of Rs 20 cr in venture debt from BAC Acquisitions

boAt, the award-winning consumer audio brand, has secured a commitment of Rs 20 crore in venture debt from BAC Acquisitions. The brand will be using the funds for business operations.

In a sector dominated by established global brands, boAt has ramped up quickly in a short span of three years, through its core high-quality audio product line of smart, efficient, stylish and durable ‘hearables’. The brand has already registered Rs 100 crores in FY'18 as gross sales and is eyeing Rs 500 crores in the next couple of years. With a strong focus on consumer desires and aesthetics, the brand has created products that seamlessly integrate into the evolved consumer’s personal style statement.

boAt has already created a community of over 1,200,000 boAtheads (consumers) who want to be seen listening and wearing their favourite audio accessories to make a lifestyle statement. Every 3 minutes there is a new boAthead (consumer) being added to the boAt family. The brand sells over 8,000 units per day and on an average of 5 units every minute. 

Aman Gupta, Co-Founder, boAt, said, “Venture Debt definitely helps us keep the capital structure intact. boAt’s financial performance has been strong since inception. Our efficient and lean business model coupled with targeted business insights has allowed the brand to enjoy logical margins so that we can earn money and not burn money.”