boAt Company Market Research Report
Company Overview
Name
boAt
Mission of the Company
To deliver fashionable, affordable, and quality audio products and accessories for India’s evolving youth.
Foundation and Founders
Founded in 2014 by Aman Gupta and Sameer Mehta.
Key People
- Aman Gupta: Co-Founder & CMO
- Sameer Mehta: Co-Founder & Chief Product Officer
Headquarters
boAt is headquartered at:
Unit no. 204 & 205, 2nd floor, D-wing & E-wing, Corporate Avenue, Andheri Ghatkopar Link Road, Mumbai, Maharashtra-400093
Number of Employees
No information is available.
Revenue
Reported INR 3000 crore in revenue with a 100% year-on-year growth in FY22.
What is the Company Known For
boAt is known for its audio products including earphones, headphones, speakers, and smartwatches. The company focuses on combining functionality, style, and affordability, targeting primarily millennials and Gen Z.
Products
Overview
boAt offers a wide range of products that primarily include:
1. Earphones
2. Headphones
3. Wireless Speakers
4. Smart Watches
5. Audio Accessories
Product Categories and Descriptions
True Wireless Earbuds
Examples:
1. boAt Airdopes 131
- Description: True wireless earbuds with ergonomic design.
- High-Level Description:
- 40 hours playback.
- Compact and lightweight.
- Key Features:
- Bluetooth v5.0 connectivity.
- Voice assistant integration.
- Easy touch controls.
2. boAt Airdopes 441
- Description: True wireless sports earphones.
- High-Level Description:
- IPX7 water resistance.
- Bluetooth v5.0 for seamless connectivity.
- Key Features:
- Up to 25 hours battery life.
- Insta Wake N' Pair technology.
Wireless Headphones
Examples:
1. boAt Rockerz 400 Pro
- Description: Over-ear wireless headphones.
- High-Level Description:
- Bluetooth v5.3.
- 30 hours playback.
- Key Features:
- Voice Assistant.
- BEAST™ Mode for reduced latency.
Smart Watches
Examples:
1. boAt Wave Flex Connect
- Description: Bluetooth calling smartwatch.
- High-Level Description:
- 1.83” HD display.
- Metallic design with silicone straps.
- Key Features:
- IP68 water resistance.
- 10 days battery life.
- Multiple sports modes.
Wireless Speakers
Examples:
1. boAt Stone 190 Pro
- Description: Portable Bluetooth speaker.
- High-Level Description:
- Compact size with IPX6 water resistance.
- Key Features:
- TWS feature for stereo sound.
- Built-in mic for calls.
Limited Edition and Collaborations
boAt has collaborated with various brands and influencers for limited edition products, such as:
- boAt X Masaba collection.
- IPL team-inspired limited editions.
Recent Developments
New Product Launches
1. boAt Airdopes ProGear:
- Launched recently offering 100 hours playback.
- Features include 15mm drivers and ENx™ Technology.
2. boAt Nirvana Ion ANC Limited Edition:
- Introduced a new variant with 120 hours playback.
- Premium features like BEAST™ Mode and ENx™ Technology.
New Partnerships
1. IPL Partnerships:
- Collaborated with Chennai Super Kings, Kolkata Knight Riders, Punjab Kings, Mumbai Indians, Delhi Capitals, and Royal Challengers Bangalore for their 2021 and 2023 IPL seasons.
- Launched team-insignia inspired audio products.
2. KaHa Technologies Acquisition:
- Acquired Singapore-based KaHa Pte Ltd to develop smart IoT-enabled wearables, enhancing product capabilities with AI and machine learning.
Product Feature Enhancements
1. Technology Integration:
- Adoption of Qualcomm and Dolby technology for enhanced audio experiences.
- Introduction of BEAST™ Mode in earbuds for low latency.
Manufacturing Milestone
- Achieved manufacturing of more than 10 million (1 crore) products under the ‘Make in India’ initiative.
Funding and Investments
1. Warburg Pincus Investment:
- Secured approximately $100 million to boost manufacturing and R&D.
2. Qualcomm Ventures Investment:
- Investment aimed to support development of next-gen audio and lifestyle products.
boAt continually aims to stay ahead in the rapidly evolving audio and lifestyle electronics market by leveraging new technologies, forming strategic partnerships, and focusing on the needs and preferences of its youthful target audience.
