Atomberg Secures $86mn From Temasek, Steadview, Others
Temasek and Steadview Capital led the round with participation from Trifecta Capital and existing investors Jungle Ventures and Inflexor
Photo Credit : Shutterstock,
Atomberg, India’s largest digitally native consumer appliances brand, has raised USD 86 million in its Series C funding round led by Temasek and Steadview Capital, with participation from Trifecta Capital and existing investors Jungle Ventures and Inflexor
Ventures, via a mix of primary and secondary issuances. The fresh fund infusion will be used to boost manufacturing capabilities, support new product launches, deepen offline presence across key regions and consolidate Atomberg’s position as a leading player in India’s consumer appliance market. Further, the company aims to expand on its new offerings including mixer grinders,the ‘Aris’ fan series and smart locks. Additionally, it seeks to enhance R&D capabilities to aid new product launches across various categories. The latest funding round comes on the back of around 100% year-on-year growth by the company.
Founded by technocrats and IIT Bombay alumni, Manoj Meena and Sibabrata Das, Atomberg is re-envisioning consumer
appliances through deep engineering expertise and is the market leader in brushless direct current electric motor (BLDC) fans.
Atomberg has launched innovative products over the years with many industry-first features offering superior customer experience.
Avendus Capital acted as the exclusive financial advisor to Atomberg on this transaction.
Talking about the transaction, Manoj Meena, Co-founder & CEO at Atomberg said, “Atomberg is an engineering-led product-first
company focused on solving latent consumer problems. Our proprietary tech stack is at the core of every product and has evolved over the years to deliver industry leading products. With this round of fundraising, our focus is on enhancing product development
and improving our product suite. We are extremely excited to partner with Temasek, Steadview and Trifecta as we continue on
our growth journey to disrupt the Indian consumer appliance market
Around The World