Mumbai-based digital home appliances startup, Atomberg, has successfully raised $86 million in a Series C funding round, led by prominent investors Temasek and Steadview Capital. The investment also saw participation from Trifecta Capital and existing investors Jungle Ventures and Inflexor Ventures, who contributed through a combination of primary and secondary issuances. Avendus Capital served as the exclusive financial advisor to Atomberg in this transaction.
The latest funding round demonstrates the growing confidence in Atomberg’s vision and its innovative approach to home appliances. The company aims to revolutionize the industry by leveraging cutting-edge technology to create energy-efficient and smart appliances that enhance the lives of consumers.
Atomberg plans to utilize the funds to bolster its manufacturing capacity and support the launch of new products. With increased production capabilities, the company aims to meet the rising demand for its existing offerings while expanding its portfolio to cater to a broader range of consumer needs.
Atomberg has already made significant strides in the Indian market with its flagship product, the Gorilla Fan. The smart ceiling fan incorporates advanced technologies such as brushless DC motors and Internet of Things (IoT) connectivity, offering energy savings of up to 65% compared to traditional fans. The Gorilla Fan’s success has propelled Atomberg to become one of India’s leading home appliance startups.
The company’s commitment to sustainability and energy efficiency aligns with the Indian government’s initiatives to promote clean energy and reduce carbon emissions. Atomberg’s products not only help consumers reduce their electricity bills but also contribute to a greener and more eco-friendly future.
The latest round of funding will enable Atomberg to accelerate its growth trajectory and strengthen its position in the highly competitive home appliances market. By expanding its manufacturing capacity, the company aims to cater to the increasing demand from both residential and commercial customers. Atomberg’s focus on technology-driven solutions and customer-centric approach has garnered a loyal customer base and positioned the company for continued success.
As Atomberg continues to innovate and introduce new products, the startup remains dedicated to providing high-quality, energy-efficient appliances that enhance comfort and convenience for consumers. With the support of its investors and the infusion of fresh capital, Atomberg is poised to drive positive change in the Indian home appliances industry and contribute to a more sustainable future.