Indkal Technologies raises $20M in Series B round

Consumer electronics company Indkal Technologies has raised $20 million in a Series B bridge funding round led by existing investors.

Before this, the Bengaluru startup raised $36 million in a Series A round in June last year.

Read also- Fintech startup Pelocal raises $5 million in Series A round from Unleash Capital Partners, others

The startup will use the new capital for R&D, strengthening sales and service networks, expanding its product portfolio, adding new display categories, building after-sales infrastructure, and brand marketing.

“The bridge generally caters to our emphasis on building Wobble, a homegrown brand for new-age electronics products, where we have been substantially investing in product development and innovation. The rollout of the brand in new categories is timed with the festive season, and hence we went ahead with the bridge first,” said Anand Dubey, CEO, Indkal Technologies.

 “The bridge will create a significant runway for Wobble. We expect to close the larger round towards the end of this financial year, once the new products have hit the market,” he said.

Indkal will keep Ayushmann Khurrana as the brand ambassador for product line Wobble. His role will help promote the company’s new range of TVs and interactive displays, the company said on Tuesday.

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Indkal started by licensing the Acer brand for TVs and later for washing machines, a surprising move for a brand known for computers. The washing machines were developed in-house by Indkal’s R&D team and designed for Indian homes.

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