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Consumer electronics startup Indkal Technologies raises $36 million in funding
Update / Judgement Date
12 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Start-Up & DPIIT
Indkal Technologies, a consumer electronics startup, raised $36 million in its maiden funding round led by Mauritius-based Aries Opportunities Fund.
The funding, entirely primary, remains undisclosed in valuation. Indkal, a trademark licensee for global brands like Acer and Black & Decker, manufactures electronics and appliances such as air conditioners, refrigerators, and washing machines. The funds will fuel product development, expand categories, and bolster distribution and service networks.
With FY24 revenue hitting Rs 800 crore, Indkal targets a 250-300% growth this fiscal, driven by profitability. CEO Anand Dubey emphasized synergies with Aries, optimistic about sector opportunities and brand Wobble's rising revenue share.
