Atomberg raised $90 mn in round led by Temasek, others
The aforementioned individuals spoke on the condition of anonymity and stated that the investors had agreed to a post-money valuation of $425 million to 450 million. It's also anticipated that current investors would participate in the financing. A91 Partners, Parampara Capital, and Jungle Ventures are a few of the investors in the manufacturer of smart appliances.
Manoj Meena and Sibabrata Das, both graduates of the Indian Institute of Technology-Bombay, created the Mumbai-based firm in 2012. It first produced intelligent, energy-saving fans. Since then, the company has expanded into smart mixer grinders and other home equipment, for which it need further funding, according to the sources. "The new investors are coming in, and the early backers are ready to go. According to one of the two persons described above, the secondary portion of the sale is for $35–$40 million.
The most recent investment round for Atomberg was a $20 million expansion funding round led by Jungle Ventures in December 2021. It received money in a Series A round led by A91 Partners in September 2019. It had secured $1 million earlier in May 2016 in a pre-Series A investment from venture capital firm Parampara Capital.
Plans for the company's fundraising on December 1. Avendus Capital, an investment bank, was hired by the startup to find investors. Until the time of publication, emails sent to spokespeople for Atomberg, Steadview, and Temasek went unanswered. According to Atomberg's most recent financial statements, which are on file with MCA, the company's total revenue, which includes other income, increased by 147% from 144.2 crore in FY21 to 357.8 crore in FY22. In FY22, it suffered a loss of 39.3 crore.