boAt Cofounder Aman Gupta’s New Venture OFF/BEAT Raises ₹100 Cr

OFF/BEAT, the latest venture of boAt cofounder Aman Gupta, has raised ₹100 Cr (about $10.7 Mn) in its seed funding round led by Bessemer Venture Partners. The startup didn’t disclose which other investors participated in the round. 

Gupta first announced the launch of OFF/BEAT in March, after he transitioned to a non-executive role in his consumer electronics startup boAt, which is expected to list on the bourses soon. 

Inc42 reported then that OFF/BEAT would likely operate as a venture studio platform, backing new ideas and founders. 

Officially, Gupta has not revealed what the new startup’s offerings will be. “India is undergoing a structural shift. A digitally native, aspirational generation is rewriting what companies must stand for, how they communicate, what they represent, and how they earn loyalty. At the same time, AI and technology are fundamentally reshaping how businesses are built, discovered, and scaled. The founders who will define this moment are those who understand both the cultural shift and the technology enabling it,” OFF/BEAT said in a statement today.

While announcing the fundraise, Gupta noted that he partnered with Bessemer not for capital requirements but to gain “global perspective” and “leverage technology and AI”.

The US-based VC firm in the past has backed Anthropic, Shopify, Canva, and LinkedIn. Bessemer’s India portfolio includes consumer-facing giants like Swiggy, Urban Company, BigBasket, Livspace and Boldfit. 

The announcement comes as boAt prepares for its IPO. It filed its updated DRHP in October 2025 for a ₹1,500 Cr IPO. Its public offering will consist of 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 further updates on its IPO timeline. Recent reports suggest that boAt has put the IPO plans on hold again to reassess market conditions and evaluate its internal readiness. 

Ahead of the IPO, Gupta stepped down from the role of CMO at boAt last September, moving to a non-executive director role without day-to-day responsibilities. He highlighted that the move was aimed at professionalising the startup’s management structure, giving CEO Gaurav Nayyar complete reigns of the executive function. 

On the financial front, after returning to profitability in FY25, the consumer electronics startup stayed in the black in the first quarter of FY26. It posted a net profit of ₹21.4 Cr in Q1 FY26, compared with 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. 

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