American chipmaker Qualcomm’s investment arm, Qualcomm Ventures, has made an equity investment in Indian audio accessory manufacturer boAT.
While the company didn’t reveal the exact amount, a company executive told Mint the amount stands at ₹50 crore. The audio accessory maker had also raised $100 million (approximately ₹750 crore) from private equity firm Warburg Pincus, which took its valuation to around ₹2,000 crore. The executive said Qualcomm’s investment has been made at the same valuation.
