VC Fund Investments
Fanmaker Atomberg raises $20-M from Jungle Ventures, Inflexor Ventures, others
Mumbai-based household electrical appliances maker Atomberg Technologies has raised USD 20 million in a round led by Jungle Ventures. The round, which takes the overall funds raised by the company to USD 45 million since inception in 2012, also saw participation from Inflexor Ventures, and existing investors A91 Partners and angel investor Ramakant Sharma. The funds will be used for setting up a new manufacturing facility and also for scaling up R&D, distribution channels and brand building. Atomberg claims that its technology reduces power consumption for fans by 65%. It currently manufactures at a facility in Navi Mumbai which can produce 1.5 lakh fans a month.
From the Venture Intelligence PE-VC Deal Database: Between May-16 and Dec-20, Atomberg raised over $18-M from Munjal Family Office, A91 Partners, Trifecta Capital, Whiteboard Capital, IDFC Parampara Capital, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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