Deep Nordic ApS, a Copenhagen, Denmark based technology company acquired a majority stake in AQFIT, an Indian tech startup based in Delhi.
It is a fast-growing consumer brand in the smart wearable and audio industry.
Deep Nordic ApS is developing advanced wearable technology products across the globe and in the Indian market; the bet has been placed on the outstanding AQFIT team. Deep Nordic ApS also plans to use India as a manufacturing base for local and international market products in the future.
AQFiT fundamental values of "Originality, Quality, Experience, and Service" are reflected in each of its products. AQFiT is committed to developing gadgets that promote a healthy lifestyle and include unique designs to meet the needs of users all around the world. The company's research and development departments are cutting edge. This investment strengthens AQFiT's mission of contributing to a healthy future in which innovation and technology are in sync with human values.
On commenting on this collaboration, Michael Bruun-Larsen Director, Deep Nordic Aps said "We are elated to share the great news with everyone, that we have partnered with AQFIT. Originating from Delhi, the AQFiT brand has proven itself viable and capable to grow fast in the wearable and audio segments in the Indian market, from talent alone.
Over the next two years, Deep Nordic Aps acquired a majority stake in AQFiT, to support marketing, supply chain, and R&D in AQFIT, to become one of India's top three smart wearable companies.
Deep Nordic ApS supports AQFiT's aim of assisting in the development of a healthy future in which innovation and technology are in harmony with human values. The strategic partnership will yield technology ahead of the market and state of art manufacturing infrastructure."
Danish Ambassador to India, H.E. Freddy Svane "This investment is a prime example of strategic collaboration between Denmark technology expertise and Indian talent empowering health and smart living locally. There will be trade enhancement and efficient bilateral relations between the two countries. The strategic partnership will result in cutting-edge technologies and manufacturing facilities in India. India's start-up AQFIT will benefit immensely from technology advancement and foray into IoT and specialized wearable products."
Manish Pengoriya - Co-Founder and Director said that "The strategic collaboration between the AQFIT & Deep Nordic will build a strong relationship between the two countries. The strategic partnership will also emphasize the made in India incentive announced by the Finance minister in the recent budget for smart wearable and audio products."
Sanjeev Singh Co-founder and CEO of AQFIT said that "Our Customer First approach and Quality Offering was a key parameter for this investment and with this new collaboration we continue to build outstanding quality and technology-driven products to our customers across India and beyond. This collaboration further helps us to expand our distribution footprint across our channels, especially offline and Large Format Retail. Our team is quite excited about this collaboration.
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( With inputs from ANI )
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