ENA Sectors 2024-07-12 16:25:34 <p><span style="font-size:14px"><strong>New Delhi, Jul 12 (KNN)</strong> Circuit House Technologies, a nascent consumer electronics manufacturer, has successfully raised USD 4.3 million in seed funding, the company announced on Thursday.</span></p> <p><span style="font-size:14px">The funding round was spearheaded by Stellaris Venture Partners and 3one4 Capital, with additional participation from notable angel investors.</span></p> <p><span style="font-size:14px">Co-founded in March 2024 by Raghu Reddy, Former Chief Business Officer, Xiaomi India, and Kailash Sankaranarayanan, previously a senior director at Flipkart, Circuit House Technologies aims to develop innovative consumer electronic products in the connected devices segment.</span></p> <p><span style="font-size:14px">The company's focus lies in advancing technology on android and android TV platforms.</span></p> <p><span style="font-size:14px">Reddy stated, Our goal is to build the next-generation Indian consumer tech company, offering cutting-edge home entertainment products that spark excitement and joy. </span></p> <p><span style="font-size:14px">He emphasised the company's strategy of combining innovative technology with insights into Indian consumer preferences to create a unique market proposition.</span></p> <p><span style="font-size:14px">The newly acquired funds will be allocated towards enhancing research and development in both hardware and software, expanding the company's workforce across various departments, and preparing for the launch of a new consumer electronics brand in the near future.</span></p> <p><span style="font-size:14px">Investors expressed confidence in Circuit House Technologies' potential. Rahul Chowdhri, Partner, Stellaris Venture Partners, praised the founders' expertise and vision, while Akshay Sharma, Vice President of Investments, 3one4 Capital, highlighted the opportunity to establish a prominent Indian brand in the global consumer electronics market.</span></p> <p><span style="font-size:14px">Among the angel investors participating in this round were Varun Alagh, Co-Founder, Mamaearth, and Abhishek Goyal, Co-Founder, Tracxn, further underscoring the start-ups promising outlook in the competitive consumer technology sector.</span></p> <p><span style="font-size:14px">As Circuit House Technologies prepares to enter the market, industry observers will be keenly watching to see how this new entrant might reshape the landscape of Indian consumer electronics.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38576 https://knnindia.co.in/news/newsdetails/sectors/consumer-electronics-manufacturer-circuit-house-technologies-raises-usd-43-mn-in-seed-funding 2024-07-12 16:25:34 knnindia.co.in