Warburg Pincus LLC has invests $100 million in India’s boAt,

U.S. private equity firm Warburg Pincus LLC has invested about $100 million in India’s boAt, the consumer electronics firm said on Wednesday.

BoAt, known for its budget-friendly bluetooth speakers and wireless earbuds, was last valued at nearly $283 million after a $59.6 million funding round in December.

The company, whose products compete with JBL Professional and realme, had an annual revenue of $95.86 million. During the third quarter of 2020, boAt captured a market share of 32.4% in the earwear category in India.

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