Atomberg Technologies has raised an undisclosed amount from KA Enterprises — the investment arm of Deepika Padukone’s Family Office in its Series B round
KA Enterprises had previously invested in startups like Epigamia, Nua, Blu Smart and Bellatrix Aerospace, among others
Atomberg had previously raised a total of INR 160 Cr to date from A91 partners, IDFC Parampara and Survam Partners
At a time when cleantech startups are aiming to catch some sunlight amid the great Indian startup ecosystem momentum, Mumbai-based cleantech startup Atomberg Technologies has raised an undisclosed amount from KA Enterprises, the investment arm of Deepika Padukone’s Family Office, in its Series B round.
Founded in 2012 by IIT Bombay alum Manoj Meena and Sibabrata Das, the home appliance startup manufactures energy-efficient and remote and voice-controlled fans and fan accessories. The startup’s product portfolio includes ceiling, pedestal, wall and exhaust fans.
The startup claims that its fans consume 28 Watts only, saving 65% electricity and INR 1,500 per year, and runs 3x longer on inverters. Having a manufacturing facility at Navi Mumbai with a capacity of 150K fans per month, Atomberg has 400 service centres across India, 8,000 counters across 120 cities in the country and a revenue run rate of INR 300 Cr.
“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. 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”, Padukone said in a statement.
Atomberg had previously raised a total of INR 160 Cr to date from A91 partners, IDFC Parampara and Survam Partners. While the corporate sector dominates the energy and power industry, startups are looking to innovate and solve problems in the mass market as well. The recent push by Reliance towards ‘new energy’ is also expected to bring more attention to the sector.
Startups such as RenewPower, 75F, Smart Joules, ZunRoof, CleanMax and others are looking to improve penetration of renewable energy and energy efficiency through their tech-driven algorithms.
Apart from the startup ecosystem, the central government is also working towards reducing greenhouse emissions. Under the National Solar Mission, the government has set a target of achieving 175 gigawatts of installed renewable energy capacity by the end of 2022. It is to be noted that of the 175 GW, the government is planning to generate 40 gigawatts of energy from solar rooftops and 60 GW from wind energy.