Atomberg Technologies, maker of energy efficient smart fans has announced that it has raised INR 70 Crore. The series B round of funding was led by A91 Partners, a VC firm that focuses on high growth startups.

Additionally, Trifecta Capital and Survam Partners, the family office of the Suman Kant Munjal group also participated in the current capital raise round.

Founded by IIT Bombay alumni Manoj Meena and Sibabrata Das, Atomberg designs and manufactures energy efficient fans that consume only 28W power at full speed.

These remote and voice controlled smart fans that can run three times longer on inverters enable Indian households to save up to 65 percent electricity.

“We believe in partnering with founders building exceptional businesses for tomorrow’s India. Our partnership over the last one year has increased our conviction in the quality of business of Atomberg. They are introducing genuine innovation and design in the consumer electricals space and consumers are loving it,” said Abhay Pandey, Co-founder of A91 Partners.

Founded in 2012, Atomberg has built a distribution network spread across 100 cities with over 400 service centres and more than 3000 retail partners. Speaking about the investment, Manoj Meena, CO-Founder & CEO, Atomberg Technologies said, “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. In a statement the company mentioned that it has scaled up to an annual revenue run rate of over Rs 150 crore plus and is optimistic about continuing this rate of growth for the next few years.

The company intends to leverage the fresh infusion of capital to amplify its distribution networks across all metro and non-metro cities, and create increased brand awareness. Additionally, funds will be used to ramp up production capacity and expand the current product portfolio to include more product categories other than fans built on the core value proposition of BLDC and motor technology.