Indkal Nets $20 Mn For Expansion Of Its Smart TV Brand Wobble 

A year after raising its maiden funding round of $36 Mn, consumer electronics and home appliances startup Indkal Technologies has secured $20 Mn (about INR 176 Cr) in a round led by existing investors.

While the startup did not disclose the names of the investors, last year’s round was led by Mauritius-based Aries Opportunities Fund. 

Sources told Inc42 that Aries Opportunities Fund participated in the latest round as well. While 70% of the funding in the new round came from existing investors, new investors accounted for 30%.

The $20 Mn fund infusion is part of a larger $100 Mn round, which the startup expects to close by March 2026. It is in early discussions with domestic and international investors for the round, the sources added. 

The Bengaluru-based startup will use the fresh capital for R&D, strengthening its sales and service network, and expanding the premium product portfolio of its in-house TV and display technology brand Wobble Displays. It also plans to launch a new smartphone brand next month.

Alongside the funding, Indkal launched the Maximus series of Wobble Displays, featuring a 116.5-inch TV. It also has 98-inch and 86-inch models.

Founded in 2020 by Anand Dubey, former CEO of Compaq Television Business, Indkal Technologies designs, develops, and delivers consumer electronics and home appliances. 

It is the licensed partner of brands such as Acer (for smartphones, TVs, and appliances) and Black+Decker (for power tools and home appliances) in India. In 2023, the startup forayed into the wearables space under the Wobble brand. Today, the brand sells products like smartwatches, TWS earbuds, TVs, and displays. Indkal also sells air conditioners under another private brand, Perrel. 

The revenue contribution of the private label brands is negligible right now as they are at a nascent stage, the sources said, adding that the startup posted a gross revenue of INR 850 Cr in FY25 with a profit of about INR 8.5 Cr.

This comes amid the electronics manufacturing boom in the country on the back of the Centre’s production linked incentive schemes for electronics, white goods, and more. As a result, the likes of Apple and Google are scaling up mobile production in the country, while those like Dixon are increasing the production of a wide range of products like laptops, PC products, washing machines, and more.

Earlier this year, the Union cabinet also cleared the Electronics Component Manufacturing Scheme with an outlay of INR 22,919 Cr to boost domestic production and attract global players.