With the help of the Mauritius-based Aries Opportunities Fund, consumer electronics firm Indkal Technologies secured $36 million, or roughly Rs 300 crore.
Through a new R&D center, the strategic funds will assist the infrastructure for product development of air conditioners, televisions, washing machines, and refrigerators, according to a news statement from Indkal. Additionally, the funds will be used to establish service network bases and broaden distribution.
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A company that licences trademarks, Indkal produces a variety of major appliances and consumer gadgets for international names such as Black & Decker and Acer.
Indkal introduced Wobble, a line of wearable and audio devices under its own brand. According to the company, it completed FY24 with sales of Rs 800 crore, while Wobble was supposed to bring in between Rs 250 and Rs 300 crore.
Indkal’s annual financial statements filed with the ROC show that its income increased by more than four times, from Rs 61 crore in FY22 to Rs 260 crore in FY23. With a profit of Rs 10.89 crore in FY23 compared to a loss of Rs 11.60 crore the year before, the company also achieved profitability.
About Indkal
Founded in 2020 by Anand Dubey, Indkal Technologies is a technology and innovation company. Indkal excels in delivering extraordinarily high quality and revolutionary consumer electronics products.
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