Atomberg aiming to make use of funds raised to strengthen distribution networks and construct model consciousness.
Energy-efficient sensible followers maker Atomberg Technologies has raised Rs 70 crore in Series B funding led by A91 Partners. The spherical additionally noticed participation from Suman Kant Munjal’s household workplace Survam Partners and Trifecta Capital. With this financing, the startup has raised a complete Rs 160 crore until date. It was based in 2012 by Sibabrata Das and Manoj Kumar Meena.
The Mumbai-based agency plans to make use of the funds raised to strengthen its distribution networks throughout all metro and non-metro cities, ramping up its manufacturing capability, and for constructing model consciousness. The proceeds may also be used to broaden its present product portfolio to incorporate extra classes. The startup presently affords varied merchandise throughout ceiling, pedestal, wall, and exhaust followers.
Over the final 12 months, now we have grown considerably throughout all channels. Our offline distribution has grown by leaps and bounds, and now we have additionally constantly been one of many prime manufacturers in ecommerce in our class. Our new product launches throughout ceiling, pedestal, and exhaust followers have been very profitable,” mentioned Manoj Meena, CEO and Co-founder of Atomberg Technologies.
“We have successfully scaled up to an annual revenue run rate of Rs 150 crore plus and we are bullish about continuing this rate of growth for the next few years. 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,” Manoj mentioned.
“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,” mentioned Abhay Pandey, Co-founder of A91 Partners.
The firm has efficiently established its distribution community throughout 100 cities and likewise has greater than 400 service centres pan India. With greater than one million Atomberg followers put in throughout the nation, Atomberg followers can be found at greater than 6,000 counters throughout the nation.
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