Aman Gupta’s OFF/BEAT Raises $10.7M Seed Funding

OFF/BEAT, the venture studio launched by boAt cofounder Aman Gupta, has raised ₹100 Cr (approximately $10.7 million) in seed funding. The round was led by Bessemer Venture Partners, with other investors not disclosed.

Gupta announced OFF/BEAT in March, transitioning from his role at consumer electronics company boAt. While the specific offerings of the venture studio have not been detailed, OFF/BEAT will focus on backing new ideas and founders, according to the company.

Gupta stated that the partnership with Bessemer Venture Partners was driven by a need for global perspective and leveraging technology and AI. Bessemer has previously invested in companies like Anthropic, Shopify, Canva, and LinkedIn, as well as Indian firms such as Swiggy, Urban Company, BigBasket, Livspace, and Boldfit.

The fundraise occurs as boAt prepares for its IPO, with an updated DRHP filed in October 2025 for a ₹1,500 Cr IPO, including a fresh issue of ₹500 Cr and a ₹1,000 Cr offer for sale from existing investors. The company was reportedly seeking a valuation of ₹13,000 Cr. However, recent reports indicate a potential hold on the IPO plans to reassess market conditions.

Prior to the IPO preparations, Gupta stepped down from his CMO role at boAt in September, transitioning to a non-executive director position. This move aimed to professionalize the management structure, giving CEO Gaurav Nayyar full executive control.

boAt reported a net profit of ₹21.4 Cr in Q1 FY26, compared to a net loss of ₹31.1 Cr in the same period last year. Revenue rose 11% to ₹628.1 Cr from ₹567.2 Cr in Q1 FY26.