OFF/BEAT, the new venture by boAt cofounder Aman Gupta, has secured ₹100 crore (about $10.7 million) in its seed funding round, led by Bessemer Venture Partners. The startup has not disclosed the participation of other investors.
Transition from boAt to OFF/BEAT
Gupta announced OFF/BEAT in March after moving to a non-executive role at boAt, which is preparing for a public listing. The new venture is expected to operate as a venture studio platform, supporting emerging founders and ideas, though its specific offerings have not yet been revealed.
Focus on Cultural and Technological Shifts
OFF/BEAT stated that India is experiencing a structural change, driven by a digitally native, aspirational generation. AI and technology are reshaping how businesses are built, scaled, and discovered. The startup aims to back founders who understand both cultural trends and technological opportunities. Gupta emphasized that his partnership with Bessemer is aimed at gaining global perspective and leveraging AI, rather than purely raising capital.
Bessemer’s Global and Indian Track Record
Bessemer Venture Partners, based in the US, has backed companies such as Anthropic, Shopify, Canva, and LinkedIn. Its India portfolio includes consumer-focused startups like Swiggy, Urban Company, BigBasket, Livspace, and Boldfit.
boAt Prepares for IPO Amid Internal Changes
The funding announcement comes as boAt moves toward its IPO. The company filed an updated DRHP in October 2025 for a ₹1,500 crore offering, including a fresh issue of ₹500 crore and a ₹1,000 crore offer for sale from existing investors. boAt had targeted a valuation of around ₹13,000 crore, but reports indicate that the IPO has been put on hold to reassess market conditions and internal readiness.
Gupta’s Shift and boAt’s Financial Performance
Ahead of the IPO, Gupta stepped down as CMO in September 2025, assuming a non-executive director role to allow CEO Gaurav Nayyar full control over executive functions. Financially, boAt returned to profitability in FY25 and continued its positive trajectory in Q1 FY26, posting a net profit of ₹21.4 crore compared with a net loss of ₹31.1 crore in the same quarter the previous year. Revenue rose 11% to ₹628.1 crore from ₹567.2 crore.
