OFF/BEAT, the latest venture of boAt cofounder Aman Gupta, has raised ₹100 Cr (approximately $10.7 Mn) in its seed funding round. The round was led by Bessemer Venture Partners, though the participation of other investors was not disclosed by the startup.
Gupta initially announced the launch of OFF/BEAT in March, following his transition to a non-executive role at boAt, his consumer electronics startup, which is anticipated to be listed on the stock exchange soon.
Reports indicate that OFF/BEAT will likely function as a venture studio platform, providing support to innovative ideas and founders.
According to an official statement, Gupta has not yet revealed the specific offerings of the new startup. The company noted that India is experiencing a structural shift, with a digitally native generation redefining corporate values, communication, representation, and loyalty. OFF/BEAT aims to support founders who understand both the cultural shift and the enabling technologies.
Gupta stated that the partnership with Bessemer was motivated by a desire to gain global perspective and leverage technology and AI, rather than capital requirements.
Bessemer Venture Partners has previously supported companies like Anthropic, Shopify, Canva, and LinkedIn. Its India portfolio includes consumer-facing companies such as Swiggy, Urban Company, BigBasket, Livspace, and Boldfit.
The announcement of the fundraise coincides with boAt’s preparations for its IPO. The company filed an updated DRHP in October 2025 for a ₹1,500 Cr IPO, which includes 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 for the IPO.
However, there have been no recent updates regarding the IPO timeline, and reports suggest that boAt has put these plans on hold to reassess market conditions and its internal readiness.
Prior to the IPO, Gupta stepped down from his role as CMO at boAt in September, transitioning to a non-executive director role. He emphasized that this move was aimed at professionalizing the startup’s management structure, granting CEO Gaurav Nayyar full control of executive functions.
After returning to profitability in FY25, the consumer electronics startup remained profitable in the first quarter of FY26, posting a net profit of ₹21.4 Cr, compared to a net loss of ₹31.1 Cr in the same period last year. Revenue increased by 11% to ₹628.1 Cr from ₹567.2 Cr in Q1 FY26.
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