New Delhi-headquartered Atomberg, a consumer appliances brand, has raised $86 million in its Series C funding round led by Temasek and Steadview Capital. Trifecta Capital and its existing investors Jungle Ventures and Inflexor Ventures also participated in the round.
The company has plans to utilise the funds to advance manufacturing capabilities. Additionally, it will support new product launches and strengthen its offline presence across multiple regions. It is also aiming to offer mixer grinders, the ‘Aris’ fan series and smart locks.
Atomberg will also enhance research and development to boost the new product launch.
Prior to this, it raised $20 million in growth capital led by Jungle Ventures and Inflexor Ventures in 2021.
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The company is aiming to expand into two new categories by the end of 2023. These new categories include kitchen appliances like chimneys and cooktops.
“Our proprietary tech stack is at the core of every product and has evolved over the years to deliver industry-leading products. With this round of fundraising, our focus is on enhancing product development and improving our product suite," added Manoj Meena, co-founder and CEO of Atomberg.
"We are extremely excited to partner with Temasek, Steadview, and Trifecta as we continue on our growth journey to disrupt the Indian consumer appliance market,” he said.
“We are thrilled to invest in the Series C funding round for Atomberg and support their vision of revolutionising the consumer appliance market in India. Atomberg's deep engineering expertise and focus on solving consumer problems through innovative products align perfectly with our strategy of backing the fastest-growing companies across the consumer and technology sectors in India,” Ravi Mehta, CTO of Steadview Capital, noted.
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