boAt raises $60 Mn from Warburg and Malabar, withdraws IPO plans
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Consumer electronics startup boAt has raised Rs 500 crore (around $60 million) from its existing shareholder Warburg Pincus and new investor Malabar Investments. In January 2021, boAt had raised $100 million from Warburg Pincus followed by a $6.7 million investment from Qualcomm in April. This fresh investment will enable the company to scale up its business across channels and geographies.