Aiming to incorporate unique domestic consumer insights in the electronics business, the Indian startup Circuit House Tech has secured million-dollar fund led by angel investors.
On Thursday, Circuit House Technologies announced it has netted $4.3 million in seed funding to launch a new consumer electronics brand in the coming months. The tech venture, co-founded by Raghu Reddy, former chief business officer of Xiaomi India, and Kailash Sankaranarayanan, ex-senior director at Flipkart, revealed the funding details in a statement.
The funding round, led by Stellaris Venture Partners and 3one4 Capital, also saw contributions from early-stage investors such as Varun Alagh (co-founder of Mamaearth), Abhishek Goyal (co-founder of Tracxn), and various strategic investors.
The Bengaluru-based startup did not reveal its valuation during this funding round but confirmed that the entire amount was raised through equity. This also marks the company’s first institutional funding.
Furthermore, the firm stated that the funds raised would be used to build a capable team across various functions, enhance research and development in hardware and software, and introduce India’s next-generation consumer electronics brand shortly.
Founded in March this year, Circuit House aims to launch home entertainment products early next year.
As an investor, Rahul Chowdhri of Stellaris Venture Partners expressed strong confidence in Circuit House Technologies. He praised the vision of the co-founders, Raghu and Kailash, and believed their innovative strategies would lead the company to significant success in the consumer tech market.
According to co-founder Raghu Reddy, Circuit House aims to meet the modern Indian consumer’s demand for superior and relevant local experiences by using technology and unique insights to offer a distinct proposition to the market.
