Circuit House Tech Nets .3 Mn To Build Consumer Electronics Products

By Inc42 Media

SUMMARY

Circuit House Technologies will use the $4.3 Mn funding to build its team, advance R&D, and launch consumer electronics products.

The startup was founded by former Xiaomi India CBO Raghu Reddy and ex-Flipkart senior director Kailash Sankaranarayanan.

Circuit House Technologies plans to enter the home entertainment segment, focusing on products like smart TVs and connected devices.

Consumer electronics startup Circuit House Technologies has raised $4.3 Mn (INR 35.7 Cr) in a seed funding round from Stellaris Venture Partners, 3one4 Capital, and a host of undisclosed angel investors.

The round saw participation from Mamaearth and Tracxn cofounders Varun Alagh and Abhishek Goyal, respectively.

The company plans to deploy the fresh proceeds to build its team, advance research and development in hardware and software and launch consumer electronics products soon.

Founded by Xiaomi India’s former chief business officer Raghu Reddy and Flipkart’s former senior director Kailash Sankaranarayanan in March this year, Circuit House Technologies aims to develop and sell consumer electronic products tailored for the Indian market.

The startup plans to design and contract manufacture its products. It aims to handle product development, R&D, marketing and distribution in-house.

Reddy, said, “We aim to build the next-generation Indian consumer tech company, offering cutting-edge home entertainment products that spark excitement and joy.”

The startup plans to focus initially on the home entertainment segment, including products like smart TVs and connected devices that integrate with Android and Android TV platforms.

Rahul Chowdhri, Partner at Stellaris Venture Partners, said, “We see tremendous potential in Circuit House Technologies’ approach to the consumer tech market.”

Circuit House Technologies expects to launch its first product in the next few quarters. 

It competes against several established players in the Indian consumer electronics market which include Xiaomi, Boat Lifestyle, Nothing, Samsung, and LG Electronics. Other notable competitors include Sony, OnePlus, and TCL, all of which have a presence in the Indian smart TV and home entertainment market.

The Indian consumer electronics market was valued at about $80 billion in 2023 and is projected to grow at a CAGR of 7% from 2023 to 2030.

Source: Inc42 Media