Friday, 24 March, 2023

Boat Raises $60M From Warburg And Malabar, Withdraws IPO Plans

<p>Boat, an audio goods and wearables company, has finalized a $60M &nbsp;fundraising round led by current investor Warburg Pincus and new investor Malabar Investments. It has formally withdrawn its IPO intentions. Boat has set a minimum valuation cap of about $1.2 billion as part of this fundraising. This implies that once Boat finishes its next round of fundraising, Warburg and Malabar would receive their preferred stocks converted into equity at a company value of $1.2B.</p>