Atomberg Secures Rs 212 Crore in Series C Funding

Atomberg, a prominent brand in consumer appliances, has successfully raised Rs 212 crore (approximately $24 million) through an extension of its Series C funding round, led by Jongsong Investments (Temasek). The co-founders and existing investors also contributed to this significant investment.

According to regulatory filings obtained from the Registrar of Companies (RoC), the board has approved the issuance of 10,006 Series C1 and C2 preference shares, priced at Rs 2,11,835 each to generate this new capital. Temasek spearheaded this tranche with an investment of Rs 132 crore, while Jungle Ventures and Inflexor Fund each contributed Rs 17.8 crore and Rs 17.9 crore, respectively. The co-founders, Manoj Kumar Meena and Sibabrata Das, jointly invested Rs 44 crore during this funding stage.

This round appears to be part of a larger funding effort, with Atomberg anticipated to raise further capital for secondary transactions. Based on estimates from Startup Superb, the latest investment round values the company at approximately $500 million post-money.

With this recent funding, Atomberg has accumulated over $150 million overall, which includes the $86 million Series C round led by Temasek and Steadview Capital in May 2023. Sibabrata Das, one of the co-founders, chose not to respond to inquiries from Startup Superb.

About Atomberg

Atomberg was founded in 2012 by Meena and Das, establishing a robust R&D-focused product line that features energy-efficient BLDC and smart fans, mixer grinders, and smart locks. The brand claims to have a retail presence that spans over 15,000 touchpoints throughout India.

Expansion in the Market

Initially, Atomberg entered the market in 2015, targeting B2B clients such as Tata Group, Infosys, and Indian Railways before shifting to B2C through platforms like Flipkart and Amazon. The company expanded its offline distribution starting in 2018.

Financial Performance

Atomberg has not yet submitted its financial reports for FY25. Nevertheless, in FY24, the revenue from operations grew by 31% year-on-year, reaching Rs 848 crore, while losses decreased by 31.7% in the same timeframe.