Mumbai-based Atomberg that makes smart, energy efficient home appliances, has raised $1Mn from Parampara Capital.
Atomberg was founded in 2012 by IIT Bombay alumni Manoj Meena and Shibarata Das. The startup will use the newly raised capital for increasing manufacturing capacity, automating the plant, product development and increasing online presence.
Atomberg is also planning to launch smart ceiling fans by next January, and hence the production capacity will be increased to 20,000 per month.
Related Article: Atomberg Technologies Eyes New Product Launches With $10 Mn Series A
Manoj Meena, CEO of Atomberg said, “India being a power deficient country where we believe that our products with its smart and energy efficient technologies can go a long way in solving this problem.The funding would be used to strengthen the manufacturing capabilities as well as to build a robust technical team that can combine the virtues of energy efficiency and IOT to come up with smart but affordable household appliances.”
What led to the idea?
In today’s world of household appliances, there is a massive gap. On one hand, we have appliances which has standard features, but consuming a lot of electricity in the process. On the other hand, there are energy efficient appliances which simply cannot compete with others, based on parameters like design, looks, price etc. Atomberg Technologies was founded to address this gap. We want to create products which have the highest energy efficiency, but are also the best in each and every parameter.
How is Atomberg making a difference?
- India’s Energy Crisis- 22% of Indians do not have access to electricity. If all fans in India are replaced by Gorilla (Atomberg’s energy saving fan), 5 Crore Indians will get access to electricity, even if there is no increase in electricity generation
- Consumer Comfort- We believe that Indian consumers are not getting the level of comfort they deserve from the household appliances and therefore we are creating smart, intelligent and connected appliances
‘Gorilla’ is an energy efficient ceiling fan, which consume only 28 watt whereas traditional fan consume 75-80 watt. The startup believes that in future its technology and service will provide a competitive advantage.
Atomberg has sold more than 10,000 units in six months since launch. It currently has more than 40 channel partners across India.
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