Shor: Gaurav Khatri, Co-Founder, Shor: Consumers have started to believe in the capabilities of local manufacturers and equate them with global brands.

Noise Has been a major player in the wearables segment of India. company. According to Counterpoint Research, India led the smartwatch market during the first quarter of the year 2022. The company’s shipments reportedly doubled in the quarter due to the good performance of its newly introduced devices. Shore is also a major player in the affordable TWS market in India. The company is now planning to enter the smart glasses segment in India. Shore Co-Founder Gaurav Khatri Talked to TOI Tech=Gadgets Now about his entrepreneurial journey, the company’s Bharat Nirman plans and more. Here are excerpts from the interview.
What challenges did you face in your entrepreneurial journey?
Startups are full of challenges; It takes a significant amount of time and effort to get them off the ground. At startup, you never know what the next moment will be like. Furthermore, as a bootstrapped enterprise, our primary challenge was to use limited resources efficiently. We worked very hard to prioritize our work and be creative to get the most out of our campaigns. And we try to replicate this with every function of the company.
Also, in startups, team building becomes quite a challenge, and even we had a hard time finding off-the-shelf talent. In this background, we are working tirelessly to provide training to develop skilled labor pool around major manufacturing clusters.
What are the opportunities that forced you to shift to the smart wearables industry?
India’s wearables market is booming with skyrocketing demand as consumers become more health conscious due to the COVID-19 outbreak. It witnessed an impressive year-on-year growth of 144.3% registering over 36.4 million shipments during the financial year 2020-21. India is the only country among the top 20 global economies to register triple digit growth in the wearables segment. Given this unique growth opportunity and the growing preference for smart wearables, we forayed into the smart wearables industry to equip Indian consumers with the best of the new age wearables.
What is your strategy to maintain your dominant position in the segment?
Currently, we rank No. 1 in India in the wearables category and no more. 2 in the TWS space and aim to maintain this growth in the future as well. Therefore, at Shor, we aggressively work on consumer feedback and insights to provide our users with the best possible experience. We have an in-house R&D team that works on the latest technologies. Our goal is to bring quality products at the right price.
Being one of the major players in the smartwatch segment in the industry, what are your India manufacturing plans?
Over the past few years, the call to be “Vocal for Local” has grown louder as consumers begin to believe in the abilities of local manufacturers and equate them with global brands. At Noise, we are focused on building this trust of New Age India. Hence, we have started setting up our manufacturing facilities in India in collaboration with partners like Bragi. Presently, we are manufacturing 25% of our products in India. This has given us immense advantage in focusing on developing bespoke, hi-tech, feature-rich items as per the requirements of the Indian customers.
What are your R&D plans?
We have recently launched a Tech Incubator, Shore Labs, to bring new innovations that aim to provide the greatest possible experience for noise users and help them use futuristic technologies in a consumer-friendly manner. Currently, we have an additional 5-member R&D team for this, and we see it growing aggressively. In addition, we have a design, development and technology team of about 50 employees.
How has been your Average Run Rate (ARR) in the last one year?
We are looking at an ARR of Rs 1500 crore and are set to reach Rs 2000 crore. Having built the largest bootstrapped DTC (Direct-to-Consumer) business with a revenue of over Rs 850 crore, we are looking to continue the growth and deliver healthy profits this year as well.

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