pTron to raise `30 cr more in 6 months
Announces festive offers on wireless audio equipment, smartwatches, chargers, and other accessories that are available at price range of Rs 449 to Rs 1,199
Hyderabad: Hyderabad-based audio accessories and smart watch maker pTron, is planning to raise additional Rs 30 crore from its existing investors in next six months. Till now, it has raised funding of up to Rs 47 crore from investors including former Blackstone India MD Mathew Cyriac, Singapore Telecom Ex-Chairman Koh Boon Hwee, and Chrys Capital Founder Ashish Dhawan.
“With the newly raised funds, the company aims to expand the manufacturing facility, and spend on marketing and research & development (R&D) activities,” Ameen Khawaja, Founder & CEO of pTron told Bizz Buzz. “Ours is the first consumer electronic brand to set-up a manufacturing facility in India at Kurnool in Andhra Pradesh. We have set up our second facility at Nacharam in Telangana last year.”
He further said, “The company is planning to more than double the extent of this manufacturing unit to 80,000 sq ft in a year from 35,000 sq ft at present. This is an effort to Indianise the products and shifting focus from China to India. Currently, this facility employs 350 personnel. There are plans in place to increase the workforce to 1,000 employees within a year.”
In the financial year 2022-23, the company has achieved net revenue of Rs 147 crore. It has set the revenue target at Rs 220 crore for the next fiscal year. It has geared up for the upcoming festive season with heavy discounts and new variant of product line up. Some of the product categories would witness lowest price points across industry and peer group.
“pTron Bassbuds Duo is being offered at a price of Rs 449, originally priced at Rs 799. Our endeavour symbolises a festive gift to the nation, allowing millions to experience top-notch technology made in India, while also fostering national pride and unity through our contributions to the Indian economy and technological ecosystem,” Ameen informed. “Our diverse portfolio, featuring cutting-edge wireless audio equipment, smartwatches, chargers, and other accessories are available at prices ranging from Rs 449 to Rs 1,199, making premium tech accessible to all. This festive season, pTron is providing offers on wireless earbuds, neckbands, headphones, and smartwatches,” he added.
pTron was founded in 2014 under Palred Electronics Pvt Ltd, a subsidiary of Palred Technologies Ltd. It has established itself as a leader in the consumer electronics space defying some of the national and multinational brands. While pTron enjoys leadership position in few product categories, the brand has geared-up and spreading wings across tier-1 & 2 markets with innovative and affordable products.
