Brands
boAt raises $100 million from Warburg Pincus
NEW DELHI: Homegrown consumer electronics brand boAt has raised approximately $100 million from an affiliate of Warburg Pincus, a leading global private equity fund focused on growth investing. This investment is a landmark deal for the direct-to-consumer (D2C) industry in India as it endorses the sector’s coming of age with consumers trusting and gravitating towards brands launched online.
The investment by Warburg Pincus will enable the company to further fortify its leading market position, widen its R&D capabilities and product portfolio, and build on boAt’s efforts to create and support a manufacturing ecosystem under the Make-in-India initiative, enabling the manufacture of products in India.
boAt co-founder Aman Gupta said, “We welcome Warburg Pincus as a new investor into the company. This is a vote of confidence for our business model and growth prospects. The investment is great news for not only the company but for the entire D2C sector. The investment has come at the right time as we make efforts to ramp up our manufacturing and global supply chain.”
boAt co-founder Sameer Mehta commented, “As boAt enters the next phase of growth and innovation, we look forward to benefitting from Warburg’s pedigree, collective experience and resources in helping us scale. Going forward, with the government’s support, we will focus on building capabilities in domestic R&D and undertake vertical integration across both the hearable and wearable space to establish India as a global supplier.”
Warburg Pincus India MD & head Vishal Mahadevia said, “We see a compelling growth story in boAt and believe the company is well-poised to build upon the strong leadership position it has carved out within the industry and stands to benefit from the secular tailwinds of e-commerce growth in India. Warburg Pincus is excited to partner with the management team of boAt led by Aman and Sameer in this journey and we look forward to supporting them through the next phase of the company’s growth.”
Avendus Capital acted as the exclusive financial advisor to boAt and its shareholders on the transaction.
Brands
Thomas Cook India, SOTC and Booking.com team up for smarter corporate stays
Global hotel choices meet Indian corporate controls for seamless business travel
MUMBAI: Business travel just got a major upgrade. Thomas Cook (India) and its group company SOTC Travel have joined forces with Booking.com to offer Indian corporates world-class accommodation options with a side of convenience.
The collaboration brings Booking.com’s vast global inventory, more than 31 million listings across 220 countries, straight into Thomas Cook and SOTC’s corporate booking platforms. From luxury hotels and resorts to homes and apartments, business travellers now have an unprecedented range of choices, all while staying within company travel policies.
Thomas Cook and SOTC president & group head of global business travel Indiver Rastogi said, “Today’s business travellers want more choice, flexibility and transparency. By linking Booking.com’s extensive inventory with our managed corporate tools, we’re delivering exactly that: policy control, price clarity and service support that businesses can trust.”
The offering is designed with the Indian corporate traveller in mind. Key features include transparent pricing with GST-compliant invoices, curated hotel options for SMEs to large enterprises, coverage across 2,500 plus Indian cities, verified traveller reviews, essential business amenities, and integrated policy control for approvals, budgets and credit limits.
Booking.com VP partnerships Mark van der Linden added, “Corporate travellers in India want the same seamless experience they enjoy in personal trips, with the right corporate guardrails. This partnership makes our global accommodation inventory enterprise-ready, combining choice, flexibility and localised support.”
With real-time booking access on desktop and mobile, enterprise-specific rates, loyalty benefits, and future integrations into Thomas Cook’s TravelOne platform, the partnership promises to make corporate travel smoother, safer and smarter than ever.
