Temasek-Backed Atomberg Eyes $200 Mn IPO

Temasek-backed home appliances startup Atomberg Technologies is preparing for a $200 Mn (about INR 1,790 Cr) IPO. 

The startup has begun early talks with investment banks and is expected to appoint advisers soon, Bloomberg reported. 

The IPO is likely to include a mix of fresh issue of shares and an offer for sale. The listing may take place as early as next year, the report added. 

Atomberg did not respond to Inc42’s queries on the development. The story will be updated if a response is received.

Founded in 2012 by IIT Bombay alumni Manoj Meena and Sibabrata Das, Atomberg started with B2B sales of energy-efficient BLDC fans before entering the consumer market in 2016. 

It sells ceiling and pedestal fans that run on BLDC motors, which use far less electricity than regular induction-motor fans. Over the years, the startup has also entered into new categories like mixer grinders, water purifiers, and a few other small appliances. However, fans account for the largest part of its revenue.

Atomberg's Funding Snapshot

Source: Inc42 Datalabs

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The startup designs and manufactures its products in India and sells them via offline retailers, online marketplaces and its own website. It has a large retail footprint across major cities and a strong online presence. Atomberg claims to have crossed INR 1,000 Cr in revenue in FY25.

Atomberg has raised a total funding of over $126 Mn to date from investors like Steadview Capital, Jungle Ventures, A91 Partners, among others. It is currently in the process of raising another funding round. 

Atomberg’s IPO plans come at a time when there has been a deluge of new-age tech IPOs. While 13 such companies have gone public so far this year, the public offerings of Meesho and Aequs will open on December 3 (Wednesday). Wakefit’s IPO is scheduled to open on December 8.