Startup Profile

boAt

Legal entity: Imagine Marketing Limited

India's leading affordable audio and wearables brand

E-commerceUnicornD2C Brand· Mumbai, Maharashtra· Est. 2016Website ↗
boAt is an Indian consumer electronics brand selling wireless earphones, headphones, smartwatches, speakers and mobile accessories, operated by parent company Imagine Marketing Limited. Founded in 2016 by Aman Gupta and Sameer Mehta, it became India's leading personal audio brand and one of the largest wearables brands by volume. Its parent has filed for an IPO with SEBI.
Funding raised
₹1000.00 Cr
Total disclosed
Latest valuation
₹11620.00 Cr
Most recent round
Latest revenue
₹3285.00 Cr
FY FY23
Employees
—
FY FY23

Founders

  • Aman Gupta

    Co-founder and Chief Marketing Officer of boAt. Previously worked at Harman International (a Samsung audio company), where he spotted the gap in India's audio accessories market. Also known as a judge/investor on Shark Tank India.

  • Sameer Mehta

    Co-founder of boAt and its parent Imagine Marketing. Leads product and business strategy. Co-founded the company with Aman Gupta in 2016.

Funding rounds

  1. Series C2022-10-28₹500.00 CrLed by Warburg Pincus
  2. Series B2021-01-05₹830.00 CrLed by Warburg Pincus
  3. Early stage / Series A2018-05-01₹6.00 CrLed by Fireside Ventures

Financials

MCA / self-reported
Fiscal yearRevenueProfit / (Loss)Employees
FY23₹3285.00 Cr(₹101.00 Cr)—
FY24₹3118.00 Cr(₹53.50 Cr)—
FY25₹3073.00 Cr+₹60.00 Cr—

The full story

Rich-text rendering of long_story is wired in the design pass.

Timeline

  1. 2025-10-29Filed updated DRHP with SEBI for Rs 1,500 crore IPO — Imagine Marketing filed an updated draft red herring prospectus for a Rs 1,500 crore IPO (Rs 500 crore fresh issue plus Rs 1,000 crore offer for sale), having earlier received SEBI approval via the confidential route.
  2. 2025Returned to profitability in FY25 — Imagine Marketing posted a net profit of Rs 60 crore in FY25 after two years of losses, with EBITDA of Rs 142 crore, driven by cost discipline and inventory reduction.
  3. 2022-10-28Became a unicorn with Series C round — Raised about Rs 500 crore (~$60 million) from Warburg Pincus and Malabar Investments at a valuation of roughly $1.4 billion.
  4. 2021-01-05Raised $100 million from Warburg Pincus — Series B round fully financed by an affiliate of Warburg Pincus to expand R&D, product portfolio and Make-in-India manufacturing.
  5. 2018-05Raised Rs 6 crore from Fireside Ventures — Early-stage venture funding from Bengaluru-based Fireside Ventures.
  6. 2016boAt founded by Aman Gupta and Sameer Mehta — Launched in 2016 under parent company Imagine Marketing, targeting durable, affordable audio accessories for the Indian market that Aman Gupta identified as underserved during his time at Harman.

Data sources

  • seed-list + Crunchbase ODM↗ · last fetched 2026-05-28
  • Editorial (press release)↗ · last fetched 2026-05-28
  • Editorial (press release)↗ · last fetched 2026-05-28
  • DPIIT (Startup India)↗ · last fetched 2026-05-28
  • Wikidata↗ · last fetched 2026-05-28
  • Wikidata↗ · last fetched 2026-05-28
  • favicon↗ · last fetched 2026-05-31
  • Warburg Pincus (official press release)↗ · last fetched 2026-06-01
  • Entrackr (FY24 results)↗ · last fetched 2026-06-01
  • Entrackr (FY25 results)↗ · last fetched 2026-06-01
  • Entrackr (Series B / early funding)↗ · last fetched 2026-06-01
  • Planify (Series C funding)↗ · last fetched 2026-06-01
  • Business Standard (DRHP / IPO)↗ · last fetched 2026-06-01
Updated 2026-06-01 · CIN: U36999MH2013PLC241261