Mumbai-headquartered Atomberg Technologies, the maker of energy-efficient and smart fans, has raised a Series B round of funding of Rs 70 crore led by A91 Partners.
The round also saw participation from Trifecta Capital and Survam Partners, the family office of the Suman Kant Munjal group. The company has raised a total of Rs 90 crore till date from A91 partners, IDFC Parampara and Survam Partners.
The fresh funds will be used for ramping up their distribution networks across all metro and non-metro cities and also for building brand promotion. The funds will also be used for ramping up the production capacity.
“The company plans to expand the current product portfolio to include more product categories other than fans built on the core value proposition of BLDC and motor technology,” Atomberg said.
“Over the last 12 months, we have grown significantly across all channels…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,” Manoj Meena, CEO & Co-Founder of Atomberg Technologies, said.
Atomberg claims its fans are helping Indian households save up to 65% electricity and Rs 1500-2000 per year/fan, by just consuming 28W power in full speed.
Atomberg has established its distribution network across 100 cities and also has over 400 service centres pan India.