Atomberg Technologies raises $20 million led by Jungle Ventures
Atomberg Technologies raises $20 million led by Jungle Ventures
Mumbai-primarily based totally purchaser product startup Atomberg Technologies has introduced a $20M increase investment spherical led through Jungle Ventures with participation from Inflexor Ventures.
The spherical additionally noticed participation from current traders inclusive of A91 Partners and cited angel investor Ramakant Sharma, co-founding father of Livspace.
The clean finances can be used to installation a brand new today’s production facility, scale-up in studies and improvement sports to facilitate class enlargement initiatives, and ramp up in investments on new distribution and logo, stated the employer.
Founded through Manoj Meena and Sibabrata Das in 2012, Atomberg, together with its on-line presence, has additionally hooked up its offline distribution community throughout 8000 counters in one hundred fifty cities. The employer additionally has a totally included production facility at Navi Mumbai with a capability of 1,50,000 lovers a month.
Going forward, the employer will extend its presence into kitchen home equipment with the release of an inverter-generation led mixer grinder, that’s anticipated to be released early subsequent year. The employer additionally goals to extra than double its presence to over 20,000 counters withinside the subsequent 18 months.
Manoj Meena, Co-Founder, and CEO of Atomberg Technologies stated, “Within the final 18 months, we’ve got visible nearly a 5x increase in our month-to-month sales from the pre-Covid times. Consumers throughout the period and breadth of the u . s . have proven first-rate love for the logo and all our improvements so far. This funding from Jungle Ventures and the self assurance proven through our current traders through taking part withinside the spherical is any other validation of the imaginative and prescient that we should create a generation-led purchaser long lasting logo that solves actual purchaser problems.”
