I Want One-Two Exits From My Angel Investments: boAt Cofounder

SUMMARY

I really want to have one or two exits, for my wife to feel comfortable that I’m doing the right thing at Shark Tank. But it’s too early – Aman Gupta

There are so many startups that are doing so well in their respective industries. It may not be investable as a VC, but it is investable as a person – Gupta said at The D2C Summit 3.0

The boAt cofounder said that he would be returning for a second season on Shark Tank India

Speaking at Inc42’s The D2C Summit 3.0, Aman Gupta, cofounder of the D2C electronics brand boAt, said that he wants to have one or two exits from his angel investments, but added that it is too early to do so.

“I’ve not gone there [invested in the startups] only as an investor. Time will tell whether they’ll be successful, and I hope they will be. I can see some of them doing well, but have I got an exit out of them? No. I really want to have one or two exits, for my wife to feel comfortable that I’m doing the right thing at Shark Tank. But it’s too early.” Gupta said.

While speaking at the said summit, the boAt cofounder said that he would be returning for a second season on Shark Tank India.

He was also a ‘shark’ at the inaugural edition of the TV show. Gupta was prolific in the first season, investing INR 6.7 Cr in 29 startups, per media reports. He has also invested in startups including logistics unicorn Shiprocket and D2C unicorn Licious, among others.

Talking about his investments, he said, “There are so many startups that are doing so well in their respective industries. It may not be investable as a VC, but it is investable as a person. They’re cash-making businesses where you may not lose money.”

Founded by Gupta and Sameer Mehta, boAt started as a consumer electronics brand, selling products such as earphones on ecommerce platforms. Subsequently, boAt evolved into a D2C brand and launched its website. Apart from its online presence, boAt also is available at 13K+ retail stores and 40+ modern retail stores. It has a network of over 40 distributors and over 180 sub-distributors.

The IPO-bound D2C brand offers 100+ products in categories including audio, personal care, gaming and smart wearables. The brand holds around 20% of India’s smart wearables market. boAt claims to have served more than 2 Mn users across the country. According to its latest financials, it made a revenue of $189 Mn in FY21, a 2.2X jump from the $88 Mn it reported in FY20.

Per Inc42’s latest report, ‘The State of Indian Ecommerce Q3 2022. Infocus: D2C’, India’s D2C startups have raised $4.2 Bn between 2014 and Q2 2022.

With the emergence of new business models and the increasing popularity of omnichannel, D2C startups in India are looking at a vast market opportunity. In fact, per Inc42 analysis, the total addressable market of D2C in India is expected to reach $302 Bn by 2030, growing at a CAGR of 24% during 2021-2030.