The series A round led by Aries Opportunities Fund and other strategic investors.
Indkal will utilize the proceeds to expand is product offerings and strengthen sales and service network.
Hyderabad, June 13, 2024: Indkal Technologies Private Limited, one of India’s fastest-growing consumer electronics startups has raised $36 million (approximately 300 crores INR). The round was led by Mauritius based Aries Opportunities Fund at an undisclosed valuation.
Bengaluru-based Indkal Technologies has had an unprecedented run of growth in the consumer electronics and appliances space since its inception in 2020 and had a landmark year in March this year, touching 1000 crores in gross revenue while remaining bootstrapped during this growth spree, which is unique in this space.
The infusion of fresh capital was done through strategic investors to support superior product development infrastructure of products like Air Conditioners, Televisions, Washing Machines and Refrigerators through a new state of the art R&D facility. The new capital will also be utilised to enhance company’s product portfolio, expand distribution and setup a wider service network base.
Indkal is one of the largest trademark licensing companies in the consumer electronics sector in India. The company manufactures a wide spectrum of consumer electronics and large appliances for some of world’s most loved brands. Indkal recently launched Wobble, its own brand of wearable and audio products.
“We are reticent about who we work and partner with, we had that same approach when evaluating our investment options. We found perfect synergies with the Aries team, and we are aligned on the strategies and growth trajectory of the company. 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.
ABOUT INDKAL TECHNOLOGIES
Indkal Technologies Private Limited is a technology and innovation company based out of Bengaluru. Indkal excels in delivering high-quality and revolutionary products across a wide spectrum of consumer electronics appliances and products. Founded in the year 2020, the company’s mission is to provide cutting edge, high-quality, and contemporary products to the growing Indian consumer market.
ABOUT ARIES OPPORTUNITIES FUND
Aries Opportunities Fund is a Mauritius based fund that focuses on high-growth companies with the potential to disrupt and achieve exponential growth across multiple geographies. The fund is dedicated to providing strategic support and capital to help innovative businesses achieve their full potential.
