M-tech eyes Rs 100 cr revenue from mobile accessories brand
M-tech mobile, a manufacturer of affordable mobile phones, today said it aims to garner revenues to the tune of Rs 100 crore in the next two years from its new mobile accessories brand, Nexez.
Designed in Japan, Nexez will introduce products across 10 categories in the current financial year, including headphones, earphones, bluetooth speakers, power banks, USB cables and chargers, the company said in a statement.
The Indian mobile phone accessories market is expected to clock a CAGR of 10.5 per cent till 2024 amd reach USD 3.54 billion, up from USD 1.42 billion in 2016, as per reports.
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Tessol raises follow-on funding from 1Crowd, Infuse Ventures and Ankur Capital * Tessol, a Mumbai-based startup in the clean tech-led cold chain logistics space, today said it has raised an undisclosed amount in follow-on equity funding from 1Crowd, and existing investors - Infuse Ventures and Ankur Capital.
Founded by IIT Delhi and Harvard alumnus, Rajat Gupta, Tessol offers products and solutions that are environmentally sustainable and reduce the lifetime cost of cooling. Its solutions range from farm-level collection to home delivery and the company works with FMCG, food processing and e-commerce players in India.
"Funds raised in this round would be utilised by TESSOL for strengthening the current product suite and bringing some disruptive products that were under development to pilot and commercialisation," Tessol said in a statement.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)