Veira Electronics, a Noida-based consumer electronics manufacturer, has raised ₹130 crore from Bharat Value Fund in a pre-IPO round. The investment will support Veira’s expansion in India’s growing smart TV market, projected to reach USD 32.57 billion by 2030.
Veira Electronics, a leading manufacturer of consumer electronics, has successfully raised ₹130 crore in a pre-IPO funding round from Bharat Value Fund. This investment aims to strengthen the company’s position in India’s rapidly expanding smart TV market, which is projected to grow at a CAGR of 17% and reach USD 32.57 billion by 2030.
Veira Electronics, based in Noida, Uttar Pradesh, is known for its diverse portfolio of LED TVs, washing machines, air coolers, and multimedia speakers. The company operates two advanced manufacturing facilities in Noida, with a production capacity of 3 million TVs annually for both domestic and international markets. Its TV lineup includes multiple operating systems such as Tizen, WebOS, Google, and Coolita, covering HD, FHD, 4K, LED, OLED, and QLED categories.
Industry Growth and Investment Strategy
India’s smart TV industry was valued at USD 11.53 billion in 2023 and is expected to reach USD 32.57 billion by 2030. The market is driven by increasing disposable incomes, greater internet penetration, and rising OTT streaming adoption. Bharat Value Fund’s Chief Investment Officer, Madhu Lunawat, highlighted that their investment in Veira aligns with their strategy of supporting key players that can reshape India’s TV manufacturing industry.
Future Prospects
Ankit Mani, MD at Veira Group, emphasized that this collaboration, combining Veira’s market expertise with Bharat Value Fund’s financial strength, will drive long-term economic growth. With its strong financial performance, including a 55% CAGR sales growth to ₹865 crore in FY24, Veira is well-positioned to expand its footprint in the smart TV segment.
This pre-IPO investment marks a crucial step for Veira Electronics as it prepares for its public listing while scaling its operations in India’s growing consumer electronics market.