🚀 Powering India's Tech Product Innovation: iDO Devices Private Limited Raises $4M (~₹34Cr)
iDO Devices (Fund V) has raised $4M in funding co-led by us at Blume Ventures and Merak Ventures.
Founded by Shalabh Srivastava (CEO) and Ashita Gupta (Chief Business Officer), iDO Devices is building India's first full-stack technology product ODM (Original Design Manufacturer). The company develops end-to-end hardware and software solutions for connected devices, specializing in Bluetooth Low Energy (BLE) and Wi-Fi technologies.
The fresh capital will accelerate customer acquisition, boost technology and IP development, and expand their geographical presence. With a team of over 100 engineers across India and China, iDO Devices is advancing its 'Single-Window Fulfillment Vision' to develop a comprehensive technology value chain in India.
"What we are trying to create at iDO is a set of capabilities ranging from chipset design through hardware layout, firmware, and systems software, which, along with investment and control of critical component technologies, will position iDO as a Global leader in tech product design across technology segments," says Shalabh Srivastava, Founder and CEO.
Arpit Agarwal, Partner at Blume remarks, "India has the engineering depth to become a global leader in product design and fulfillment. iDO Devices' integrated approach positions the country as a preferred destination for technology solutions."
As the global product design and fulfillment market approaches $15 billion by 2025, iDO Devices is leading the charge in positioning India as a global hub for technology product design and manufacturing.
Read the full announcement here: https://lnkd.in/dHgzdPKu
Karthik B. Reddy, Ashish Fafadia, Sanjay Nath, Arpit Agarwal, Sajith Pai, Rohit Kaul, Ria Shroff Desai, Mitul Mehta, Alok Mehta, Deepika Jain, Sarita Raichura, Gautham Sivaramakrishnan, Vikram Gawande, Elton C.