Atomberg Raises USD 24 Mn In Series C Extension Led By Temasek The company is expected to raise additional capital as part of a broader ongoing round, including secondary transactions.
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Consumer appliances brand Atomberg has raised fresh funding of INR 212 crore (USD 24 million) as part of an extension to its Series C round.
The investment was led by Jongsong Investments, an arm of Temasek, along with participation from the company's co-founders and existing investors.
According to filings with the Registrar of Companies, the board approved the allotment of 10,006 Series C1 and C2 preference shares at a price of INR 2,11,835 each to secure the new capital.
Temasek contributed INR 132 crore, while Jungle Ventures and Inflexor Fund invested INR 17.8 crore and INR 17.9 crore, respectively. Co-founders Manoj Kumar Meena and Sibabrata Das jointly infused INR 44 crore in this tranche.
The company is expected to raise additional capital as part of a broader ongoing round, including secondary transactions. Estimates indicate that the latest share allotment values Atomberg at around USD 500 million post money.
With the new infusion, Atomberg's total fundraising has crossed USD 150 million. This includes the USD 86 million Series C round led by Temasek and Steadview Capital in May 2023.
Founded in 2012 by Meena and Das, the company has developed a range of R&D driven products such as energy efficient BLDC and smart fans, mixer grinders, and smart locks. Atomberg reports a retail presence across more than 15,000 touchpoints in India.
The company first entered the market in 2015 by supplying to B2B clients including the Tata Group, Infosys, and Indian Railways before expanding to B2C online platforms and later building offline distribution from 2018.
