A massive gold rush has been ensuing in the Consumer Tech industry with a number of companies taking the IPO route. Massive funds are also flowing in from outside the country into investments for the consumer tech market.
Who got funded?
The first start-up that got funded in consumer tech is ‘Chara’. A deep-tech start-up, ‘Chara’ is based in Bengaluru and has recently raised $850,000 in a seed funding round backed by Kalaari Capital. Chara is based on a rare-earth free motor technology. They offer HVAC applications, and home appliances which come under the umbrella of consumer technology.
The next name which was funded recently in Consumer Tech is ‘BOAT’, a well-known brand which creates audio and lifestyle products. BOAT received funding from Qualcomm Ventures, but the amount raised remains undisclosed.
The next start-up which got funded is ‘Miko’. Miko is an advanced robotics start-up which raised INR 50 Cr in a funding round backed by Ivycap Ventures, Chiratae Ventures, YourNest Capital, and Keshav Murugesh (ex-chairman, NASSCOM). Miko makes companion toys for children with advanced robotics technology.
A deep-tech start-up, ‘Chara’ is based in Bengaluru and has recently raised $850,000 in a seed funding round backed by Kalaari Capital.
Who are the New Investors in Consumer Tech?
A number of popular names in Bollywood have been actively investing in technology start-ups. Akshay Kumar is one such Bollywood star who recently funded the wearables tech startup ‘GOQii’ and joined its board as a member. Akshay Kumar also has two more technology investments to show on his portfolio. One of which is the well-known FAU-G, the recreation of the now banned ‘Chinese’ game PubG. Akshay Kumar also has another e-commerce investment in his portfolio.
What’s in it for me?
The consumer technology sector has tremendous potential currently and start-ups venturing into B2C e-commerce, food delivery technology, and EdTech look promising. Consumer Technology start-ups are not seeing too much disruption due to the covid waves.
Most of the existing brands are rapidly growing and will hit IPO in no time. In fact, consumer tech companies which were suffering from stunted growth suddenly saw greater demand when the Covid pandemic commenced. This is mainly because consumer presence online saw a surge.
Even fledgling start-ups which have cropped up feebly are expected to weather out any storm and last until visible growth is seen. The growth perspective looks promising in consumer tech.
Consumer tech has seen a number of unicorns in the recent past. A lot of liquidity is rushing into new companies which is immensely beneficial for them.
Consumer tech brands who have been in the market for quite a while are also having their valuations increased as they inch towards IPO. Small start-ups in niche markets for consumer tech have high hopes of receiving funding and generating revenue streams.