Consumer electronics firm Indkal Technologies has secured $20 million in bridge funding. The investment comes from existing supporters along with new institutional investors, including domestic family offices. This capital injection forms part of Indkal’s Series B round, executed in two stages. First, this bridge funding, and later, a larger round anticipated by the financial year’s end.
Anand Dubey, CEO of Indkal Technologies, stated that this bridge caters to their focus on building Wobble, a homegrown brand for new-age electronics. They’ve invested significantly in innovation and product development. The brand’s launch into new categories is timed with the festive season, prompting the initial bridge funding.
The funding will specifically bolster Wobble’s expansion, with Indkal planning its launch across multiple display categories during the festive period. Dixon Technologies, a contract manufacturer, will produce the display screens. Dubey noted the bridge round received larger investments from existing investors and new participants, highlighting increasing confidence in the company and the broader electronics sector. He added that this bridge creates significant runway for Wobble, and they expect to close the larger round once the new products are in the market.
Wobble will initially target the Indian market, with subsequent plans for overseas expansion once it has established a firm foothold. Dubey emphasized India’s strengthened position as a hub for product R&D, development, and manufacturing. With Wobble, they are positioned to leverage this ecosystem and compete globally.
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