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[Funding alert] Atomberg Raises $86 Mn From Temasek, Steadview, and Others

By Viestories
New Update
Digitally native consumer appliance company in India, Atomberg, has raised USD 86 million in a Series C fundraising round headed by Temasek and Steadview Capital, with participation from Trifecta Capital and existing investors Jungle Ventures and Inflexor.

Digitally native consumer appliance company in India, Atomberg, has raised USD 86 million in a Series C fundraising round headed by Temasek and Steadview Capital, with participation from Trifecta Capital and existing investors Jungle Ventures and Inflexor.

Ventures will provide fresh funds through a combination of primary and secondary issuances. The purpose of this fund infusion is to enhance manufacturing capabilities, facilitate new product launches, expand offline presence in important regions, and solidify Atomberg's position as a prominent player in India's consumer appliance market, as per reported by BW Disrupt.

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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."

It also aims to strengthen its research and development capabilities to support the introduction of new products in various categories. This recent funding round follows the company's impressive year-on-year growth of approximately 100%.

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Atomberg, led by Manoj Meena and Sibabrata Das, both technocrats and alumni of IIT Bombay is revolutionizing consumer appliances with their profound engineering knowledge.

Atomberg has introduced groundbreaking products with numerous industry-leading characteristics, ensuring a remarkable customer journey. Avendus Capital served as the sole financial advisor to Atomberg for this particular deal.

About Atomberg

By redefining India's home appliances one issue at a time, Atomberg, the country's largest digitally native consumer appliance brand, aims to revolutionize the country.

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