Indkal Raises USD 36 Mn to Enhance Electronics Infrastructure | Entrepreneur

Consumer electronics startup Indkal has raised USD 36 million (around INR 300 crore) in a Series A round led by the Mauritius-based Aries Opportunities Fund.

The raised capital would help the company grow and develop its infrastructure of products like air conditioners, televisions, washing machines, and refrigerators.

Anand Dubey, CEO, Indkal Technologies, said, “We needed to invest in product development. Locally being able to make better products that are more localised is more suited for Indian consumers and their needs in consumer electronics and durables, and that became a big part of why we raised investment.”

Founded in 2020, Indkal Technologies manufactures consumer electronics and large appliances for some global brands like Acer and Black+Decker.

The company recently revealed its plans to enter the rapidly expanding smart wearable market and introduced Wobble, a line of wearable and audio devices under its own brand.

Along with looking at categories like refrigerators, which it joined a month ago, Indkal is also placing a “heavy bet” on items like room air conditioners.

It aims to achieve INR 8,000 crore in the next 2–3 years.