boAt Co-Founder Secures Rs100 Cr for AI Venture

Aman Gupta, co-founder of boAt, has successfully raised Rs100 crore in seed funding for his new venture, OffBeat Studios. The investment round was spearheaded by Bessemer Venture Partners, a firm known for backing significant tech companies. Gupta stated that his objective was to attract partners who possess a global perspective and possess strengths in artificial intelligence and technology, rather than merely seeking a financial investment.

Bessemer's involvement brings speed, credibility, network, and strategic support, which Gupta views as vital for a company operating in the current AI-driven landscape. He chose to announce the fundraise on his wedding anniversary, drawing a parallel between selecting an investor and choosing a life partner, emphasizing the importance of a relationship that endures through challenges.

OffBeat Studios was introduced on March 3, following Gupta's transition to a non-executive role at boAt. While the company has not yet revealed its specific business model, team, or launch timeline, Bessemer partner Anant Vidur Puri expressed confidence in Gupta's ability to leverage his experience in building consumer brands for the AI-reshaped market.

This significant fundraise occurs as boAt's parent company, Imagine Marketing, has received regulatory approval for its IPO, navigating changes in leadership and future listing plans.