Smart fan maker Atomberg Technologies has raised an undisclosed sum from KA Enterprises, the family office of Bollywood actor Deepika Padukone, as part of its extended Series B round. The company previously raised Rs 160 crore from A91 Partners, IDFC Parampara and Survam Partners.
Padukone-backed KA Enterprises had previously invested in startups like FMCG Epigamia, Edtech FrontRow, Wellness brand Nua, EV Blu Smart and Spacetech Bellatrix Aerospace, among others.
“We have begun talks to raise our next funding round of $25-$30 million. The company has grown 100% year on year in the financial year ending March 31, earning Rs 300 crore in revenue. We intend to continue our growth in the coming years and will look to grow north of Rs 1,500 crore in the next 36 months,” Sibabrata Das, cofounder of Atomberg, told ET.
The growth he said, will come from the newer smaller appliances’ categories such as mixer grinders and wet grinders that the company intends to enter.
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.
Atomberg Technologies 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.
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.