Atomberg Technologies gets Rs 70 crore in Series B round
The startup builds energy-efficient fans that can help consumers save more than Rs 1,500 per fan on their power bill annually.
December 08, 2020 / 01:55 PM IST
Atomberg Technologies co-founders Manoj Meena and Sibabrata Das .
Energy-saving fan maker Atomberg Technologies has raised Rs 70 crore in a Series B funding round led by A91 Partners. Trifecta Capital and Survam Partners, the family office of the Suman Kant Munjal Group, also participated in the round, the company said in a press note.
The latest round takes the funds raised by the Mumbai-headquartered company to Rs 90 crore.
The money will be used to strengthen the distribution network and to build brand awareness. The funds will also be used for ramping up the production capacity to expand the product portfolio.
“...with this fresh round of funding, we strongly believe we have the right ammunition required to create the kind of consumer brand we visualised a few years back," said Manoj Meena, cofounder, Atomberg Technologies
The company has managed to scale up its annual revenue run rate of Rs 150 crore plus.
Atomberg says its fans consume only 28 Watt of power at full speed, saving 65 percent electricity that saves up to Rs 2,000 a year per fan. Their fans are available in 100 cities and the company has more than 400 service centres in the country. It has more than a million fans installed in the country already.