Noise Enters GCC Region As Part Of Global Expansion Plans

SUMMARY

Noise said it has partnered with Dubai-based distribution company Lime Concepts to enter the GCC region under the first phase of its global expansion plan

Noise’s products will now be available across Virgin Mega Stores, a lifestyle and electronics retailer in the GCC region

Noise slipped into the red in FY24, posting a net loss of almost INR 20 Cr as against a net profit of INR 88 Lakh in FY23

Gurugram-based audio products and wearable startup Noise has entered the Gulf Cooperation Council (GCC) region as part of its international expansion plans.

In a statement, the startup said it has partnered with Dubai-based distribution company Lime Concepts to enter the GCC region under the first phase of its global expansion plan.

Noise said its products will now be available across Virgin Mega Stores, a lifestyle and electronics retailer in the GCC region.

Commenting on the GCC foray, Noise cofounder Gaurav Khatri said, “This global expansion marks the realisation of our vision and the next bold chapter in our journey to become a leading force in smart wearables worldwide…As we enter new regions, starting with the GCC through strong strategic partnerships, we are poised to replicate our success story on a global scale as a ‘Made in India, Made for the World’ brand.”

Founded in 2014 by Gaurav and Amit Khatri, Noise initially started by selling smartphone cases and accessories. However, it pivoted to selling smart wearables and wireless headphones, smartwatches, smart rings, and audio devices.

The startup sells its products via its website, ecommerce marketplaces Amazon and Flipkart, quick commerce platforms like Zepto, and retail stores.

After being bootstrapped since its inception, Noise raised its first funding round in November 2023. It bagged $10 Mn from audio giant Bose at a valuation of about $426 Mn.

In May last year, Noise acquired AI startup SocialBoat to bolster the AI-powered fitness and health features for its wearable devices.

On the financial front, Noise slipped into the red in the financial year ended March 31, 2024. It posted a net loss of almost INR 20 Cr in FY24 as against a net profit of INR 88 Lakh in FY23. Operating revenue rose by a marginal 0.30% to INR 1,430.9 Cr from INR 1,426.5 Cr in the previous fiscal.