Kul Bhushan · · 2 min readBoAt’s parent firm buys 🇸🇬 IoT startup to boost wearable products
Imagine Marketing, the parent firm of boAt, an India-based consumer electronics startup, has acquired KaHa, a Singapore-based IoT firm, for an undisclosed sum.
Founded in 2015, KaHa offers a wide range of IoT-focused solutions, including hardware and software, AI, machine learning capabilities, and more. The firm, which operates across Singapore, India, and China, also has more than 30 patents.
Founders Aman Gupta (left) and Sameer Mehta / Photo credit: boAt
The acquisition will allow boAt to improve its wearable product offerings and leverage KaHa’s expertise in the IoT space to scale up the fomer’s wellness-focused wearable ecosystem. It will also boost boAt’s plans to roll out products with features that cater to the needs of Indian consumers.
“By leveraging KaHa’s capabilities, we will be able to create a powerful smart wearables ecosystem with powerful functionality at affordable prices that truly benefit the consumers,” Sameer Mehta, Imagine Marketing’s co-founder and chief product officer, said in a statement.
See also: Rocking the BoAt: How an Indian startup beat Chinese giants at their game
Imagine Marketing also pointed out that the firm had captured more than 20% of the share in India’s wearable electronics market, which it estimated to be worth over US$1 billion. Driven by increasing awareness among consumers about their health, the startup added that it is looking to tap into the lifestyle-centric wearables ecosystem.
Last January, boAt raised US$100 million from an affiliate of private equity fund Warburg Pincus.
Editing by Collin Furtado and Arpit Nayak
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