Audio products and smartwatch maker boAt’s parent Imagine Marketing India is in talks with three investors to raise capital.
BoAt cofounder and CEO Sameer Mehta told Economic Times that the fundraise will be “strategic” in nature instead of just raising capital.
The cofounder said that boAt is now focussed on improving its financial metrics and turning profitable once again in the current fiscal year (FY25). He added that the startup turned earnings before interest, taxes, depreciation, and amortization (EBITDA) profitable in the fiscal year 2023-24 (FY24) and expects to become net profitable once again in the ongoing fiscal.
On boAt’s initial public offering (IPO) plans, the CEO said that the company is looking at going public only after it turns profitable in FY25. He added that the startup is looking at raising INR 2,000 Cr via the IPO in the next 12-18 months.
https://inc42.com/buzz/boat-in-talks-to-raise-funds-eyes-ipo-in-the-next-12-18-months/
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