Onida raises ₹149 crore from Authum to fund AI-led turnaround

What's the deal? Onida Electronics, formerly MIRC Electronics, has raised ₹149 crore ($17.9 million) in post-IPO equity from Authum Investment and InfrastructureDealroom has a profile for this one. Try Dealroom →.

The Indian consumer electronics brand will use the capital to fund a turnaround under new chief executive officer Gunjan Srivastava, a former Bosch Home Appliances leader.

The plan: pivot to AI-integrated appliances and double its retail footprint to 8,000–9,000 outlets.

Why now? The funding follows a brutal year. Onida reported a ₹74 crore net loss on ₹671 crore in revenue in FY26.

The fresh capital is likely essential for daily operations, clearing old liabilities, and funding the marketing and R&D needed to modernise its lineup.

Onida is now prioritising its own brand and pulling back from third-party contract manufacturing.

What could go wrong? India's consumer electronics market is dominated by LGDealroom has a profile for this one. Try Dealroom → and SamsungDealroom has a profile for this one. Try Dealroom →, plus a wave of online-first brands.

These rivals benefit from massive scale and lower manufacturing costs. Onida's market share in televisions and audio has slipped to low single digits.

The company is shifting away from low-cost, "me-too" products toward premium appliances — a bet that hinges on whether consumers see the brand as a modern, value-for-money option.

Profit margins remain a concern, and management may need further funding, which could dilute existing shareholders.

The signal: Backing from Authum Investment and Infrastructure, a corporate investor, reflects a strategic bet on reviving a legacy consumer brand rather than a typical venture play — fitting for a turnaround that hinges on operational restructuring and brand revival rather than early-stage growth.

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