Atomberg Technology Raises $86 Million in Series C Funding, Led by Temasek and Steadview Capital

• ByStartupStory     |    May 29, 2023

Mumbai-based consumer appliances brand Atomberg Technology has successfully secured $86 million in its latest Series C funding round. The round saw participation from investors including Temasek, Steadview Capital, Trifecta Capital, Jungle Ventures, and Inflexor Ventures. The funds raised will be utilized to enhance manufacturing capabilities, support new product launches, strengthen offline presence in key regions, and solidify Atomberg’s position in India’s competitive consumer appliance market.

Atomberg Technology, founded in 2012 by Manoj Meena and Sibabrata Das, focuses on solving consumer problems through engineering-led innovation. The company’s proprietary technology stack, including the ‘Brushless DC Motor’ (BLDC) technology for ceiling fans, has been instrumental in delivering industry-leading products. Commenting on the funding round, Manoj Meena, Co-founder and CEO of Atomberg, emphasized the company’s commitment to product development and suite improvement.

“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,” said Manoj Meena. “Our focus remains on enhancing product development and improving our product suite, leveraging our deep engineering expertise.”

Ravi Mehta, Founder and CIO of Steadview Capital, expressed his enthusiasm for investing in Atomberg, citing the company’s engineering expertise and consumer-focused approach. He believes Atomberg has the potential to revolutionize the consumer appliance market in India. Similarly, Sandeep Bapat, Partner at Trifecta Growth Equity, highlighted Atomberg’s ability to redefine the industry through innovation and build a large business.

Avendus Capital served as the exclusive financial advisor to Atomberg Technology for this funding round. With the newly acquired capital, Atomberg is poised to further disrupt the market with its innovative and energy-efficient products, including the recently introduced mixer grinders, ‘Aris’ fan series, and smart locks.

The funding round marks another milestone for Atomberg Technology, reaffirming its position as a leading player in the consumer appliance industry.

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