Key Takeaways
- • Aman Gupta, co-founder of consumer electronics company boAt, has raised ₹100 crore in Series Seed funding for OFF/BEAT Studios, a new retail venture designed to build a house of brands across diverse product categories.
- • Bessemer Venture Partners and Reed India led the investment round, with participation from a Mauritius-based investor and an India-based employee benefit trust, representing a cross-border transaction structure.
- • Trilegal advised OFF/BEAT and founder Aman Gupta on the fundraise, while Khaitan & Co represented Bessemer Venture Partners in drafting and negotiating definitive investment documents.
- • The transaction demonstrates continued institutional venture capital confidence in repeat founders with proven track records, with BVP's involvement signaling significant market validation for the new retail venture.
Summary
OffBeat Studios Private Limited, operating as OFF/BEAT, has successfully closed a Series Seed funding round valued at ₹100 crore led by Bessemer Venture Partners (BVP) and Reed India. The company is the latest venture of Aman Gupta, co-founder of boAt, and will operate in the retail space with the strategic objective of building a diversified portfolio of brands across multiple product categories.
The funding round involved a complex cross-border investment structure, with capital participation from both international and domestic sources including a Mauritius-based investor alongside an India-based employee benefit trust. This composition reflects the transaction's multinational character and suggests early-stage employee equity participation aligned with founder incentives.
Trilegal served as legal counsel to OFF/BEAT and founder Aman Gupta throughout the fundraising process, with the transaction team led by Partners Amit Khansaheb and Vishruta Kaul, supported by counsel-level advisors and junior associates. The firm managed the full scope of legal documentation and negotiation for the Series Seed round. In parallel, Khaitan & Co advised Bessemer Venture Partners, with a team led by Partners Sanjay Khan Nagra and Hardik Bhatia handling the drafting and negotiation of definitive investment documents on behalf of the institutional investor.
The funding announcement underscores the venture capital market's continued appetite for experienced founders transitioning to new ventures. Gupta's prior success in scaling boAt from inception has established credibility sufficient to attract tier-one institutional capital from BVP, a leading global venture firm with significant India exposure. The inclusion of Reed India as a co-lead investor further reflects domestic venture market participation alongside international capital, positioning OFF/BEAT within India's growing consumer brand ecosystem.
The funding round involved a complex cross-border investment structure, with capital participation from both international and domestic sources including a Mauritius-based investor alongside an India-based employee benefit trust. This composition reflects the transaction's multinational character and suggests early-stage employee equity participation aligned with founder incentives.
Trilegal served as legal counsel to OFF/BEAT and founder Aman Gupta throughout the fundraising process, with the transaction team led by Partners Amit Khansaheb and Vishruta Kaul, supported by counsel-level advisors and junior associates. The firm managed the full scope of legal documentation and negotiation for the Series Seed round. In parallel, Khaitan & Co advised Bessemer Venture Partners, with a team led by Partners Sanjay Khan Nagra and Hardik Bhatia handling the drafting and negotiation of definitive investment documents on behalf of the institutional investor.
The funding announcement underscores the venture capital market's continued appetite for experienced founders transitioning to new ventures. Gupta's prior success in scaling boAt from inception has established credibility sufficient to attract tier-one institutional capital from BVP, a leading global venture firm with significant India exposure. The inclusion of Reed India as a co-lead investor further reflects domestic venture market participation alongside international capital, positioning OFF/BEAT within India's growing consumer brand ecosystem.
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