Get All Access for $5/mo

The New Trendwatcher in Town Arnav Kishore, 29, Founder & CEO, FireBoltt

By Punita Sabharwal

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Arnav Kishore, Founder & CEO, FireBoltt

Entrepreneurship runs in the family of Arnav Kishore. Almost everyone in his family has this entrepreneurial zest of doing something of their own. His father is also a seasoned entrepreneur, who has been instrumental in bringing brands like Nike and Lotto to India. He and his sister Aayushi (who is also the other Co-founder), grew up watching their father and learned so many lessons about entrepreneurship from him. In 2015, Aayushi and Arnav both co-founded Boltt. Talking about the idea behind Boltt, Kishore claims, "Being an athlete, I always had a passion to create something futuristic and unique for sportsmen and fitness enthusiasts. Combining my passion for sports, technology, and entrepreneurship, I am now exploring the world of wearable technology and heading Fire-Boltt, an innovative wearable tech company, with the ambition to transform health, fitness, and sports."

Prior to this, he came up with the idea of a smart shoe paired with Garmin that would track the user's vitals while running/working out. Though the idea did not take off, it laid the foundation for Boltt. Keeping this in mind, he started developing strong in-house capabilities, innovative product offerings, and technological superiority in the budget category. The brand has come up with over 70 smartwatches in the last 12 months and is soon launching its first Smartwatch in Outdoor Series.

Delving into details on the clientele, Kishore says, "We have served around 15 million customers so far. Our major clientele is Gen Z and Millennials between the age of 18 to 30 years out of which 90% are men." Fire-Boltt intends to sell 12 million units (MU) in FY23, a 380% increase from the total of 2.5 MU it sold in FY22. To attain this, it has already entered the UAE market and recently expanded its wings in South East Asia Market. Going forward, they will venture into the Singapore and Vietnam markets through a partnership with SmartechSG Pte. as part of Phase I of its expansion plans. Later, it plans to enter the US and Europe markets soon. Kishore concludes by saying, "We are one of the most profitable companies among the bootstrapped startups in our industry. We are maintaining healthy gross margins and EBITDA."

Factsheet

Year of inception of the company: 2015

Number of employees: 180+

Punita Sabharwal

Entrepreneur Staff

Managing Editor, Entrepreneur India

News and Trends

Ratan Tata Receives 23000% Return From Upstox Investment

Discount stock broker platform Upstox recently said that it has completed a buyback of 5 per cent of former Tata chairman Ratan Tata's holdings in the company.

Business News

Melinda French Gates Announces Open Call for $250 Million Fund. Here's Who Can Apply.

The fund is part of French Gates's $1 billion philanthropic plan.

News and Trends

Rata Tata Turns 86: Some Lesser-Known Facts, Impactful Investments in Startups by Him

Born to Naval Tata and Sooni Tata, the Chairman Emeritus of Tata Sons and Tata Trusts Ratan Tata is a skilled pilot and the first Indian to pilot the F-16 Falcon in 2007. Besides this, he is prolific investor in various startups too.

News and Trends

Economy Process Solutions Secures INR 100 Cr in Series A Round Led by Stakeboat Capital

With the raised funds, the platform aims to accelerate growth, expand the range of in-house manufactured products, increase the company's global footprint, and enter new categories, particularly in food and beverage solutions.