Mumbai headquartered Atomberg Technologies, a technology-led consumer product company, has announced a $20M growth funding round led by Jungle Ventures with participation from Inflexor Ventures. The round also saw participation from existing investors including A91 Partners and noted angel investor Ramakant Sharma, co-founder of Livspace. So far, Atomberg’s has raised a total of $45M since inception.
The fresh funds will be used to set up a new state-of-the-art manufacturing facility, scale-up in research and development activities to facilitate category expansion initiatives, as well as to ramp up investments on new distribution and brand.
Manoj Meena, CEO & Co-Founder of Atomberg Technologies says the company is setting up a new manufacturing unit in Chakan, Pune. “It will manufacture all the product lines that
Atomberg has - currently fans and mixer grinders. The capacity would be 10 lakh units/month,” said Meena.
Founded by Manoj Meena and Sibabrata Das in 2012, Atomberg says its fans are more energy efficient and consume 65% less energy compared to traditional induction motors. Not only that, the fans can be connected to the smart appliances in the house, and can run 3x longer on inverters.
Atomberg has been growing at over 200% year on year consistently over the last six years. The company sells through ecommerce portals like Amazon and Flipkart, and has also successfully established its offline distribution network across 8000 counters in 150 cities. The company also has a fully integrated manufacturing facility at Navi Mumbai with a capacity of 150000 fans/month.
Going forward, the company will expand its presence into kitchen appliances with the launch of India’s first inverter-technology led mixer grinder, expected to hit the market in early 2022. Further the company also aims to more than double its presence to over 20,000 counters in the next 18 months.
Meena says the company has plans to expand its product portfolio. “Within fans, we will have new launches in ceiling, pedestal, wall and exhaust fans in the next 12 months.
Outside fans, we will be foraying into the motorised food preparation category. The first product to be launched in that category will be a mixer grinder, which should be launched early next year. Other than that, we are also working on a few other categories within consumer durables where Atomberg’s motor technology expertise can be leveraged to the fullest,” says Meena.
Meena adds that within the last 18 months, the company has seen almost a 5x growth in its monthly revenues from the pre-Covid times.
“Manoj and Shibam have done a commendable job in disrupting a traditional appliance category of fans in India. With the team’s R&D focus and mindset, they have built a deep innovation pipeline for small appliances backed by breakthrough technology. With Atomberg, we see a huge potential to create a horizontal small appliance electronics brand in India and beyond. It’s a fantastic business with a tremendous growth potential, and we are incredibly excited to partner with the team, and support their next stages of growth,” said Arpit Beri, VP Investments, Jungle Ventures in a statement,
Atomberg is Jungle Ventures’ latest investment in India, and adds to other recent investments in the country including Turtlemint- an insurance agent enablement network, Citymall- a community based e-commerce platform, Leap- a one-stop overseas education enabler, Betterplace- a tech platform for blue collar workforce management, among others.
Jatin Desai, Managing Partner at Inflexor Ventures in a statement said, “We have had the privilege of working with Manoj and Shibam early in their journey and have been very impressed with the way they have grown over the years. We are very pleased to back Atomberg Technologies from Inflexor in their next phase of growth where they will continue to scale up and disrupt the consumer durables landscape with smart application of technology.”
The fresh funds will be used to set up a new state-of-the-art manufacturing facility, scale-up in research and development activities to facilitate category expansion initiatives, as well as to ramp up investments on new distribution and brand.
Manoj Meena, CEO & Co-Founder of Atomberg Technologies says the company is setting up a new manufacturing unit in Chakan, Pune. “It will manufacture all the product lines that
Atomberg has - currently fans and mixer grinders. The capacity would be 10 lakh units/month,” said Meena.
Founded by Manoj Meena and Sibabrata Das in 2012, Atomberg says its fans are more energy efficient and consume 65% less energy compared to traditional induction motors. Not only that, the fans can be connected to the smart appliances in the house, and can run 3x longer on inverters.
Atomberg has been growing at over 200% year on year consistently over the last six years. The company sells through ecommerce portals like Amazon and Flipkart, and has also successfully established its offline distribution network across 8000 counters in 150 cities. The company also has a fully integrated manufacturing facility at Navi Mumbai with a capacity of 150000 fans/month.
Going forward, the company will expand its presence into kitchen appliances with the launch of India’s first inverter-technology led mixer grinder, expected to hit the market in early 2022. Further the company also aims to more than double its presence to over 20,000 counters in the next 18 months.
Meena says the company has plans to expand its product portfolio. “Within fans, we will have new launches in ceiling, pedestal, wall and exhaust fans in the next 12 months.
Outside fans, we will be foraying into the motorised food preparation category. The first product to be launched in that category will be a mixer grinder, which should be launched early next year. Other than that, we are also working on a few other categories within consumer durables where Atomberg’s motor technology expertise can be leveraged to the fullest,” says Meena.
Meena adds that within the last 18 months, the company has seen almost a 5x growth in its monthly revenues from the pre-Covid times.
“Manoj and Shibam have done a commendable job in disrupting a traditional appliance category of fans in India. With the team’s R&D focus and mindset, they have built a deep innovation pipeline for small appliances backed by breakthrough technology. With Atomberg, we see a huge potential to create a horizontal small appliance electronics brand in India and beyond. It’s a fantastic business with a tremendous growth potential, and we are incredibly excited to partner with the team, and support their next stages of growth,” said Arpit Beri, VP Investments, Jungle Ventures in a statement,
Atomberg is Jungle Ventures’ latest investment in India, and adds to other recent investments in the country including Turtlemint- an insurance agent enablement network, Citymall- a community based e-commerce platform, Leap- a one-stop overseas education enabler, Betterplace- a tech platform for blue collar workforce management, among others.
Jatin Desai, Managing Partner at Inflexor Ventures in a statement said, “We have had the privilege of working with Manoj and Shibam early in their journey and have been very impressed with the way they have grown over the years. We are very pleased to back Atomberg Technologies from Inflexor in their next phase of growth where they will continue to scale up and disrupt the consumer durables landscape with smart application of technology.”
( Originally published on Dec 16, 2021 )
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