Atomberg, a digitally native consumer appliances brand, has raised $86 million in Series C funding, led by Temasek and Steadview Capital.
The round also saw 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 the company’s position as a leading player in the country’s consumer appliance market, according to a company press release.
According to the company, the latest funding round comes on the back of around 100 per cent year-on-year growth. “We are 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,” said Manoj Meena, co-founder & CEO at Atomberg.
The company has launched innovative products over the years with many industry-first features offering a superior customer experience and claims market leadership in brushless direct current electric motor (BLDC) fans. It hopes to expand its new offerings, including mixer grinders, the Aris fan series, and smart locks, along with enhancing its R&D capabilities to aid new product launches across various categories.
“Our focus on design and innovation has allowed us to reimagine these products, elevating their functionality, performance, and user experience. As we continue on this incredible journey, we are thrilled to partner with Temasek, Steadview, and Trifecta. This round of funding will allow us to accelerate our growth, expand our team, and deliver even greater value to our customers,” said Sibabrata Das, co-founder at Atomberg.
Avendus Capital acted as the exclusive financial advisor to Atomberg on this transaction. 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.”