Mumbai-based consumer appliances startup Atomberg will use the new resources for developing its products portfolio, tending up production capacities, and building brand awarenesses.
Mumbai-headquartered smart fans maker Atomberg Technologies on Tuesday declared that it had supported by a Series B fundraise of Rs 70 crore led by A91 Partners. The Series furthermore saw collaboration from Trifecta Capital and Survam Partners, the family office of the Suman Kant Munjal group. The company has earlier gathered a total of Rs 90 crore from A91 partners, IDFC Parampara, and Survam Partners.
The startup said the new funds will be used for improving flow networks overall metro and non-metro metropolitan networks, and building brand awareness. The resources will moreover be used for inclining up production limit. The association also plans to develop the current product portfolio to fuse more product other than fans dependent on the core value suggestion of BLDC and motor advancement.
“Over the last 12 months, we have grown significantly across all channels. Our offline distribution has grown by leaps and bounds, and we have also consistently been one of the top brands in eCommerce in our category. Our new product launches across ceiling, pedestal, and exhaust fans have been very successful,” said Manoj Meena, CEO and Co-founder of Atomberg Technologies.
A91 Partners was set up by former associates at Sequoia Capital India and spotlights on high improvement new organizations in the consumer, technology, financial services, and healthcare sectors in India
Started by IIT Bombay graduates Manoj Meena and Sibabrata Das in 2012, Atomberg claims that its fans are helping Indian families put aside to 65% force and Rs 1500 - 2000 consistently for each fan, by eating up 28W power at the max power. The association has viably settled its network across 100 metropolitan cities and moreover has more than 400 service centres pan India. With more than 1,000,000 Atomberg fans present in the country, Atomberg fans are available at more than 6,000 counters across the country.