Consumer appliance brand Atomberg raises $86 million led by Temasek, others

Mumbai-based consumer appliance brand Atomberg Technology has raised $86 million or Rs 710 crore in a mix of primary and secondary issuances in a Series C funding round led by Temasek and Steadview Capital, with Trifecta Capital and existing investors Jungle Ventures and Inflexor Ventures. 

The IIT Bombay alumni-founded company plans to use the raised capital to boost manufacturing capabilities, launch new products, deepen offline presence across key regions, and consolidate the company's position in India’s consumer appliance market. 

It also plans to strengthen its new offerings, including mixer grinders, the ‘Aris’ fan series and smart locks, and enhance R&D capabilities to aid new product launches across various categories. 

Founded in 2012 by Manoj Meena and Sibabrata Das, Atomberg sells a range of consumer appliance products, including brushless direct current electric motors (BLDC) and smart fans, mixer grinders and smart locks with leadership in BLDC fans.

“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," Meena, who is also the CEO at Atomberg, said in a statement.

Ravi Mehta, Founder and CIO at Steadview Capital, said, “We are thrilled to invest in the Series C funding round for Atomberg and support their vision of revolutionising the consumer appliance market in India. Atomberg’s deep engineering expertise and focus on solving consumer problems through innovative products align perfectly with our strategy of backing the fastest-growing companies across the consumer and technology sectors in India. We believe in Atomberg’s potential to disrupt the industry and are excited to be part of their growth journey.”

Avendus Capital acted as the financial advisor to Atomberg on this transaction, the statement said.

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