Sachin Bansal invests in boAt headphones, which says it sells five units every minute
- Flipkart co-founder
Sachin Bansalhas invested ₹20 crore in venture debt in boAt, through his firm BAC Acquisitions.
- The audio brand boAt has gained popularity because of its affordable headphones.
- The company claims that it sells over 8,000 units per day and on an average 5 units every minute.
The three-year old brand has already registered ₹100 crores in FY'18 as gross sales and is eyeing ₹500 crores in the next couple of years.
“Venture Debt definitely helps us keep the capital structure intact. boAt’s financial performance has been strong since inception. Our efficient and lean business model coupled with targeted business insights has allowed the brand to enjoy logical margins so that we can earn money and not burn money,” said Aman Gupta, co-founder, boAt.
According to the company, boAt sells over 8,000 units per day and on an average five units every minute. Along with e-commerce websites like Amazon, Flipkart, Snapdeal, the brand is also seen in the shelves of offline retail stores like Croma and Vijay Sales.
The audio brand had raised ₹6 crore from Fireside Ventures in May 2018.
Meanwhile, Bansal has been upping his game with his investments. He had recently invested ₹200 crore in Piramal Enterprises’ debt and has subscribed to its non-convertible debentures (NCDs). Bansal had also invested in the ride hailing unicorn Ola and electric bike startup Ather Energy.
Bansal had announced his exit from Flipkart after its $16 billion acquisition by Walmart in 2018.