Lokmat Media Pvt Ltd has made a strategic investment acquiring a significant stake in consumer electronics start-up iAir Technologies. The multi-platform media house has interests in a diversified portfolio of Publishing, Broadcast, Digital, Entertainment, and Brand Solutions. iAir has a varied range of products including smart TVs (from 24" to 75"), mobile phones and mobile accessories. The growth capital raised in this round of funding would be used to ramp up distribution and accelerate new product development for the brand.
Speaking about the Investment, Joint Managing Director (JMD) and Editorial Director, Lokmat Media Rishi Darda, said, "We see tremendous growth potential in smart TV sales. This will be fuelled by better distribution channels, growing aspirations of urban and rural India, and a rise in the consumption of digital content on different platforms.
Founder and CEO, iAir Technologies Ravinder Johar is a successful serial entrepreneur and we are excited to partner with him in this venture to create a national consumer brand."
Ravinder Johar, while speaking about the partnership, said, "We are very excited about this association with Lokmat Group. Apart from growth capital, I see Lokmat playing a big role in helping and guiding us in marketing and brand building. This, coupled with quality products and good after-sales service would help us achieve our mission of giving premium experience to customers at an affordable price point.