Consumer electronics startup Indkal Technologies raises $36 million in funding
Consumer electronics startup Indkal Technologies has raised $36 million in a funding round led by Mauritius-based Aries Opportunities Fund.
The funding, entirely primary, was the first by the 2020-founded firm and was done at an undisclosed valuation.
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The company will use the funds for product development and to expand various categories, besides widening its distribution and service infrastructure.
In FY24, Indkal clocked a gross revenue of Rs 800 crore, which it aims to grow by 250-300% by the end of this fiscal, chief executive Anand Dubey said. The firm is also profitable on a profit after tax (PAT) basis, he added.
“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 exist in the sector and we are confident our association with Aries and other participating investors will lend us the strategic impetus to propel us in the right
