New Delhi [India], September 16: Indian tech product ODM iDO Devices Private Limited has successfully secured $4 million (approximately Rs 34 crore) in a funding round spearheaded by Blume Ventures and Merak Ventures.
This investment aims to bolster iDO Devices’ mission to establish a comprehensive, integrated design and product delivery ecosystem, alongside an innovation center in India. This strategic move is tailored to serve global consumer electronics and enterprise tech clients across the US, Europe, and India. iDO Devices specializes in developing products equipped with BLE and Wi-Fi capabilities, and is planning to incorporate GPS and GSM in future projects.
“What we are trying to create at iDO is a set of capabilities ranging from chipset design through hardware layout, firmware, and systems software, which, along with investment and control of critical component technologies, will position iDO as a Global leader in tech product design across technology segments. We are executing on BLE and Wi-Fi and expect to deepen these technologies by designing our own SoCs as we build vertical product volumes in these technologies,” commented Shalabh Srivastava, Founder and CEO of iDO Devices, who leads the company’s vision and strategic growth.
“We are happy to have support from Blume and Merak, who lead investments in companies like Pixxel and Bellatrix, in our vision of contributing to and creating India’s product ODM layer. We believe product leadership is the next frontier in India, and the timing for what we are endeavoring couldn’t be more portentous,” stated Ashita Gupta, Founder and Chief Business Officer of iDO Devices.
“This investment will boost our efforts in customer acquisition, invest aggressively in technology development and IP creation, and aid in expanding our geographical reach. Traditionally recognised as a leading IT services country, India is now shifting its focus toward becoming a significant player in the design and fulfilment of technologically advanced products. Amid global developments and supportive policy frameworks in India, iDO has gained a head start with a team of more than 100 tech experts located in India and China, complemented by an extensive partner network globally. We appreciate Blume and Merak for recognising the significant growth potential this transition represents,” Ashita and Shalabh added.
“What excites us is the vast opportunity that lies ahead for India to integrate the rapidly growing capabilities in the product design-to-fulfilment space, building on the depth of embedded engineering expertise available in the country, combined with the development of robust onshore capabilities in the end-to-end design of consumer and enterprise tech devices. The global market size for product design and fulfilment is projected to reach $15 billion by 2025, with India poised to capture a significant share. Moreover, the addressable customer base is global, spanning industries worth trillions of dollars, including consumer electronics, automotive, and healthcare. We are confident that iDO will firmly be on the map of global brands when they think of designing and delivering innovative products and concepts,” added Arpit Agarwal, Partner at Blume Ventures.
Manu Rikhye, Partner at Merak Ventures, remarked, “At Merak, we back ideas that matter — solutions to real-world problems with the potential to scale. India has long been home to deep engineering talent; with iDO, that capability is being channelled into full-stack product design and delivery. Even at the seed stage, they bring a rare trifecta: global customer relationships, embedded systems expertise, and executional depth. It’s an ambitious charter, and a strong signal of how India’s product ecosystem is starting to come into its own. We’re proud to be early partners in their journey.”
With this secured funding, iDO Devices is set to transform the tech landscape, lead innovations, and boost India’s status in the global product tech arena. iDO Devices is focused on realising its ‘Single-Window Fulfilment Vision’ through three key strategies: establishing a comprehensive tech value chain in India for global solutions; transforming R&D efforts by pioneering advancements in chip and unit design, assembly, and machine learning innovation; and enhancing connectivity, capacity, and intelligence to drive eco-friendly, efficient digital innovations.
About Blume Ventures
Blume Ventures is India’s leading homegrown early-stage venture capital firm. Founded in 2010, Blume backs entrepreneurs obsessed with solving hard problems that are uniquely Indian in nature and impact large markets. Its portfolio boasts over 300 companies, including unicorns like Unacademy, Slice, Purplle, and Spinny. Blume Ventures has successfully nurtured exits, including Taxiforsure (acquired by Ola Cabs), Zipdial (acquired by Twitter), and Mettl (acquired by Mercer). Blume Ventures is currently investing its Fourth Fund, Blume Fund IV, which closed at over $250 million. Our investments are diversified across sectors such as Enterprise Applications, Consumer, FinTech, Retail, and High Tech.
For more information, please visit https://blume.vc.
About Merak Ventures
Merak Ventures is a sector-agnostic, early-stage venture fund investing in companies that are solving real problems and creating large-scale impact in the B2B and emerging technologies sectors. With over a decade of experience in the Indian ecosystem, Merak Ventures is managed by experienced operators and investors, Manu Rikhye and Sheetal Bahl, who bring over 20 years of experience each to the table.
For more information, please visit https://merakventures.com/
About iDO Devices Private Limited
Innovating India’s ODM Landscape: iDO Devices revolutionizes the Original Design Manufacturing (ODM) framework by harnessing India’s technical brilliance and entrepreneurial spirit. Aligning global brands with the robust Indian ecosystem, it delivers high-quality, competitively priced tech solutions across multiple sectors.
Specializing in advanced BLE, WiFi, GPS, and potentially GSM applications, iDO Devices offers highly innovative and functional solutions. Key offerings include:
- Bluetooth Turnkey Solutions: A decade-long expertise in the segment.
- High-Quality, Competitively Priced Solutions: Ensuring excellence in every product.
- Embedded System Design & Development: Creating robust and custom systems.
- Hardware & Firmware Development: Managing projects from conception to production.
- Comprehensive Product Design: Including PCB, BOM development, and tool moulding.
iDO Devices not only brings tech solutions to life in India but also ensures that these innovations are globally accessible, continually redefining the value chain for unmatched global reach.
For more information, please visit our website: https://idodevices.com/
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