Veira Electronics Secures Major Boost with Rs 130 Crore Funding

Veira Electronics secured Rs 130 crore from Bharat Value Fund, concluding its pre-IPO round. This capital will expand its Noida facilities, enhancing its TV manufacturing capacity. India's smart TV market is projected to hit USD 32.57 billion by 2030. Veira offers a wide range of operating systems and end-to-end solutions.

Contract smart TV manufacturer Veira Electronics announced a significant boost in its operations with the acquisition of Rs 130 crore in funding from Bharat Value Fund, marking the closure of its pre-IPO placement round. This financial injection is aimed at expanding the Veira Group, which currently runs two cutting-edge facilities in Noida, Uttar Pradesh, boasting a production capacity of up to 3 million TVs annually.

Bharat Value Fund's CIO, Madhu Lunawat, highlighted Veira's impressive financial trajectory, citing a 55 percent compound annual growth rate in sales from FY22 to FY24, with figures reaching Rs 865 crore in FY24. The investment by Bharat Value Fund aligns with the promising projections for India's smart TV manufacturing industry, valued at USD 11.53 billion in 2023 and expected to surge to USD 32.57 billion by 2030 at a CAGR of 17 percent.

Ankit Mani, Managing Director of Veira, emphasized their comprehensive end-to-end solutions for brands targeting the Indian market, offering a broad spectrum of services including research and development, sourcing, design, manufacturing, assembly, final testing, and reverse logistics. Veira's diverse TV portfolio features major operating systems such as Tizen, WebOS, Google, and Coolita, covering categories from HD to QLED.