The company previously raised Rs 160 crore from A91 Partners, IDFC Parampara and Survam Partners.
Ka Enterprises has previously invested in startups such as Epigamia, Blu Smart, and Bellatrix Aerospace.
“We have begun talks to raise our next funding round of $25-$30 million,” Sibabrata Das, cofounder of Atomberg, told ET.
According to Das, the company has grown 100% year on year in the financial year ending March 31, earning Rs 300 crore in revenue.
“We intend to continue our growth in the coming years and will look to grow north of Rs 1,500 crore in the next 36 months,” he added.
ALSO READ TECH NEWSLETTER OF THE DAY
Andreessen Horowitz, the storied Silicon Valley venture capital firm, is close to making its first investment in a startup in India—cryptocurrency platform CoinSwitch Kuber.
Read Now
The growth he said, will come from the newer smaller appliances’ categories such as mixer grinders and wet grinders that the company intends to enter.
Founded by Manoj Meena and Das in 2012, Atomberg currently sells energy-efficient brushless DC electric motor fans. It has a fully integrated manufacturing facility at Navi Mumbai with a capacity of 150,000 fans a month and over 400 service centres across India.
“Atomberg’s vision in trying to create smart and energy-efficient consumer appliances for the ever-evolving new-age Indian consumer is something I absolutely relate to,” Padukone said. “The team, over the last 5 years, has demonstrated that they have all the key elements to create a truly valuable and differentiated consumer brand.”
Atomberg currently sells through 7,000 counters across 120 cities. “The plan is to scale this to 15,000 counters by the end of the next financial year,” Das said.
For all the latest Technology News Click Here
