Consumer electronics start-up Indkal Technologies Private Limited, based in Bengaluru, revealed that it has secured $36 million at an undisclosed valuation in a fundraising round headed by Mauritius-based Aries Opportunities Fund.
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According to a statement from the business, the newly raised funds will be utilised to support the infrastructure for product development of goods including air conditioners, televisions, washing machines, and refrigerators through a new R&D facility. The money will also be used to build up a larger service network, increase distribution, and improve the company’s line of products.
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Indkal was established in 2020 and produces a huge range of consumer electronics and appliances for some of the most well-known companies in the world. The company just unveiled Wobble, a line of wearable and audio devices under its own brand.
“Indkal is poised to leverage the immense opportunities that exists in the sector and are confident our association with Aries and other participating investors will lend us the strategic impetus to propel us in the right direction,” said Anand Dubey, CEO of Indkal Technologies.
The firm says that March of this year was a historic month, reaching a gross income of Rs 1,000 crore despite continuing to be funded entirely by its own resources.
About Indkal
Indkal is a leader in producing cutting-edge consumer electronics items of the highest calibre.
