Atomberg raises Rs 70 Cr Series B round
Mumbai: Consumer appliance startup Atomberg Technologies has raised Rs 70 crore in its Series B round led by A91 Partners. The round also saw participation from Trifecta Capital and Survam Partners, the Suman Kant Munjal group’s family office.
Launched by Meena and Sibabrata Das in 2012, Atomberg is a smart and efficient motor based home appliance company focused on making a range of energy-efficient fans. These products are available on all e-commerce websites and in more than 6000 counters across the country.
Atomberg has a manufacturing facility at Navi Mumbai with 100,000 fans/month and over 400 service centers across India. The firm further claims to have reached a revenue run rate of Rs 150 crore.
Floated by former Sequoia Capital’s managing directors VT Bharadwaj, Gautam Mago, and Abhay Pandey, A91 Partners, had closed its maiden fund at $350 million in May last year to invest in early to growth-stage private companies across consumer, healthcare, financial services, and technology sectors.
Earlier this year, A91 had invested $20 million in microlender Aye Finance through a secondary sale of shares. Following the deal, the VC firm acquired the stake of Accion Venture Lab and gave 3X exit in return to the Aye Finance’s early backer.
