PE-VC Fund Investments
Consumer appliances brand Atomberg raises Rs.212-Cr led by Temasek
Consumer appliances brand Atomberg has raised INR 212 crore (USD 24 million) in an extension of its Series C round led by Temasek (via its unit Jongsong Investments), with participation from Jungle Ventures, Inflexor Fund, and co-founders Manoj Kumar Meena and Sibabrata Das, through the issue of 10,006 Series C1 and C2 preference shares at INR 2,11,835 per share.Founded in 2012, Atomberg sells BLDC (brushless direct current) fans and smart fans, mixer grinders, and smart locks. The brand claims to maintain a retail presence at over 15,000 locations across India. Atomberg began serving B2B (business-to-business) clients such as Tata Group, Infosys, and Indian Railways in 2015, later expanding into B2C (business-to-consumer) through platforms such as Flipkart and Amazon, and subsequently scaling its offline distribution from 2018.The current funding is part of a larger ongoing round. The company is expected to raise additional capital for secondary transactions. The latest allotment values Atomberg at about USD 500 million post-money.
Between May-16 and Feb-23, Atomberg Technologies had attracted about USD 137.86 M from A91 Partners, Munjal Family Office, Whiteboard Capital, Inflexor Ventures, Jungle Ventures, Steadview Capital, Temasek, Trifecta Capital, IDFC Parampara Capital, and others.For FY24, Atomberg Technologies had reported about INR 848.62 Cr in Operating Income and about INR 203 Cr in Net Loss.
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