Imagine Marketing, parent company of Indian earwear brand boAt, will acquire Singapore-based KaHa Pte Limited, an end-to-end smart IoT product development company, to scale up its smart and holistic wellness wearable ecosystem.
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.
"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,” said Sameer Mehta, co-Founder and chief product officer, Imagine Marketing.
He added: “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."
The wearables market in India is estimated to be over US$ 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. The company’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.
"Our DNA lies in cutting edge product development and building smart IoT products that solve consumer problems,” said Pawan Gandhi, CEO and co-founder of KaHa Pte Ltd. “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."
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.