Gupta, a d 2 C entrepreneur and boAt co-founder who gained huge popularity as a'shark' in the Indian version of the start-up reality show 'Shark Tank' is a great believer in hustle Even though the word is often interpreted negatively, Gupta says he can't work with somebody who doesn't reciprocate his level of energy and drive. Speaking about building a D 2 C juggernaut in boAt, one of
It was a tough category. There were not many online brands funded in the space when we started in 2016. We went to 40 angel investors and when they started asking questions, we came back and delivered on those points, Gupta shared at the ASCENT Conclave 2022. "Today I look at those investors and tell them - you missed the boAt," Gupta said.
BoAt raised its first major round of funding in 2018 when D 2 C-focused early-stage investor Fireside Ventures pumped in Rs 6 crore $900,000 into the start-up. Kanwal Kanwaljit Singh, Managing Partner at Fireside bet on me and I gave him decent returns, Gupta shared.
At the time of funding, Singh had said in a statement that boAt has the makings of a truly iconic brand. We look for brands that have identified white spaces and come up with solutions and products that cater to these target audiences. BoAt as a brand is doing exactly that. Today, BoAt is backed by large investors, including Warburg Pincus, Qualcomm Ventures, InnoVen Capital, amongst others. At the end of FY 22, the company claims to have revenues of Rs 3,000 crore, which is a 100 per cent increase from year-on-year. It planned to go public before pulling out of the IPO last month.
Gupta said Hustle is the first quality I look for in a founder, and he supports the importance of hungry founders, a philosophy he follows when he invests in Shark Tank India.