Boat co-founder Aman Gupta has raised Rs 100 crore in seed funding for his new venture, OffBeat Studios, in a round led by Bessemer Venture Partners, marking his first big move after stepping back from day-to-day operations at the consumer electronics brand.
Announcing the funding on LinkedIn, Gupta said the decision to raise capital was driven less by financial need and more by strategic value to investors.
“I didn’t raise capital because I needed a check. I raised it because Anant, Vishal and Bessemer partners around the world bring speed, credibility, network and strategic support that money alone can’t buy,” he wrote.
Gupta said his focus this time is on building with strong technology and an AI backbone, in line with global trends in startup innovation.
“Having built from scratch before, I know what capital can and can’t do. This time, I was looking for partners with a global perspective who could help me leverage technology and AI, because that’s where the future lies,” he added, pointing to Bessemer’s track record with companies like Anthropic, Shopify, Canva, and LinkedIn.
Jumping off the boat amid the IPO push
The funding comes weeks after Gupta unveiled OffBeat Studios in March, following his move to a non-executive director role at Boat in September 2025. The company has meanwhile appointed Gaurav Nayar as CEO, while co-founder Sameer Mehta has moved into the CEO role with a focus on strategy.
The reshuffle coincided with Butt’s renewed attempt to announce his identity. After shelving a Rs 2,000-crore IPO in 2022, the company revived its listing plans in 2025, filing confidential papers in April and later filing an updated draft red herring prospectus for a Rs 1,500-crore offering.
However, recent reports indicate that the company has once again paused its IPO plans to reassess market conditions and internal preparedness.
