SINGAPORE - Media OutReach - 17 January 2022 - Imagine Marketing Private Limited (parent company of boAt) announced the acquisition of Singapore based KaHa Pte Limited, an end-to-end SMART IoT product development company. The acquisition will enable Imagine Marketing to augment its wearable product offerings in terms of the concept, design, electronic firmware, algorithm development, Android/ iOS applications, new feature integration, social engagement and analytics, and lead the way by creating a vibrant eco-system for the Indian consumer. This acquisition will allow Imagine Marketing to scale up its smart and holistic wellness wearables ecosystem, and further innovate to come up with functional features with the Indian consumer in mind.
Founded in 2015, KaHa has capabilities in developing products in the IoT space and has a technology-focused platform for wearables through patented AI and ML capabilities, end-to-end smart wearable solutions (hardware and software), and data-driven smart IoT platforms, providing solutions and analyses for multiple use cases. It has its operations across Singapore, India and China. KaHa Pte Limited, with over 30 patents and over 90 dedicated and experienced engineers, is expected to augment IMPL's capabilities to introduce technologically advanced products and shorten the lead time to have an ecosystem play in the wearables and IoT segment.
The wearables market in India is estimated to be over USD 1 billion, growing at ~100% YoY with positive headwinds and attractive market characteristics. In a year since entering the category, boAt has amassed over 20% market share in India on the back of launching multiple disruptive high-quality products at affordable prices. Imagine Marketing aims to participate in a broader lifestyle-oriented play in India's wearables ecosystem, driven by consumers' rising health consciousness and need for convenience.
Imagine Marketing has been increasing its R&D focus through boAt Labs with a dedicated 25+ member team having expertise in audio and wearable devices. Imagine Marketing's deep understanding of consumer and category landscape combined with KaHa Pte Limited's strong IoT expertise will help create smart products with a holistic wellness focus that improve the quality of life of consumers. The acquisition is expected to increase Imagine Marketing's product offering capabilities fueling the next generation IoT enabled smart wearables that are more versatile, personalized and affordable.
"We are passionate about providing a compelling value proposition to our wide audience of digital-savvy young, aspirational consumers by offering a portfolio of well-designed and distinctive lifestyle-oriented products, indigenized and offered at attractive prices. With chronic lifestyle diseases on a rise, we are seeing greater awareness and adoption of digital connected devices consumers that enable consumers to better track their habits and adopt healthier lifestyles. Our acquisition of KaHa Pte, a next-generation platform known for developing smart wearables in the holistic wellness space captures all aspects including vitals, fitness, social and mental health. By leveraging KaHa's capabilities, we will be able to create a powerful smart wearables ecosystem with powerful functionality at affordable prices that truly benefit the consumers." said Sameer Mehta, Co-Founder and Chief Product Officer, Imagine Marketing Pvt. Ltd.
Sameer Mehta, Co-Founder and Chief Product Officer, Imagine Marketing Pvt. Ltd.
Pawan Gandhi, CEO and Co-founder of KaHa Pte Ltd., said "We are delighted to become part of the boAt family. Our DNA lies in cutting edge product development and building smart IoT products that solve consumer problems. We look forward to working with the boAt team to make wearable technology an enriching and life-changing part of the consumer's everyday life and building a vibrant wearables ecosystem"
Pawan Gandhi, CEO and Co-founder of KaHa Pte Ltd
KaHa is a Singapore-based Internet of Things (IoT) technology company with offices in Singapore, China, India. An industry leader, KaHa has developed its proprietary COVE® IoT platform.
With in-built Artificial Intelligence and Machine Learning algorithms, COVE® provides users with actionable intelligence and personalized experiences across a range of consumer verticals: Health & Wellness, Sports & Fitness, Digital Payment and Safety. The platform includes electronics design, printed circuit board assembly, application frameworks for iOS and Android, cloud services, data analytics and smart after-sales service tools. For more information, visit www.coveiot.com.