Circuit House Technologies, a consumer electronics company, has raised $4.3 million in a new financing round headed by Stellaris Venture Partners and 3one4 Capital. The financing also included Mamaearth co-founder Varun Alagh and Tracxn co-founder Abhishek Goyal. This marks the startup’s first institutional funding.
Circuit House plans to use the profits to create a next-generation Indian consumer tech company and provide innovative home entertainment goods, according to a news statement.
Circuit House, co-founded in March 2024 by Reddy and Kailash S, sells consumer electronic products. The company claims to provide consumer items relevant to the connected device industry. The platform focuses on consumer technology innovation, such as the Android and Android TV platforms.
According to the Bengaluru-based company, it will create and market consumer electronics, beginning with devices in the home entertainment category that will be available early next year. Other major players in this arena include Miko, GOQii, CWD Limited, Boat, Noise, and others.
Its mission is to create the next-generation Indian consumer technology company by providing cutting-edge home entertainment items that elicit excitement and joy. The primary target customer is the ‘Aspiring Indian’, which is defined as people aged 25 to 40 who are tech-savvy, image-conscious, and value-seeking shoppers. The Indian consumer electronics market, valued at USD 80 billion in 2023, is expected to increase at a CAGR of ~7% from 2023 to 2030, creating a considerable potential. Circuit House Technologies intends to create a major presence in this enormous market, beginning with the home entertainment section.
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