Indkal Technologies to strengthen product development and after-sales services with $20 million funding

Electronics company Indkal Technologies has secured $20 million in bridge funding from its existing investors, aiming to expand its brand, Wobble Displays, across India. The fresh capital will be used to boost product development capabilities and strengthen after-sales service networks, the company said.

Speaking to CNBC-TV18, Anand Dubey, CEO of Indkal Technologies, said, “The new funding obviously allows us to strengthen our product development capability. It helps us take these amazing products that we are developing in display technology to different parts of the country, and then make sure that we are strengthening our after-sales service capabilities, which obviously play a very large part in the trust that we are going to be able to build with our customers.”

Dubey added that the company is focusing on the premium television segment, particularly large-screen displays. “What sets us apart is our emphasis on developing larger screen-size televisions. We think the market is shifting towards more premium products, even if the volume growth hasn't been there,” he said. He noted that the average screen size in India is now over 40 inches and could eventually reach 60 inches, similar to more developed markets.

The company recently launched the Maximus series, including a 116.5-inch television, which Dubey described as a “disruptive” move for the Indian consumer electronics market. He said, “Our effort will be to bring them closer and closer to more accessible price points without compromising on the technology that is available. This will allow us to democratise some of these very large sizes, which people definitely want to consume but have been out of reach in the past few years.”

Indkal Technologies reported revenues of around ₹850 crore last year and expects further growth, aided by the government’s GST rationalisation. “Anything above 32 inches was at 28%, which is now at 18%, so that massive drop in prices, along with what is happening on the product manufacturing infrastructure, will spur demand,” Dubey said.

Watch accompanying video for entire conversation.