Temasek-backed Indian consumer electronics brand, Atomberg Technologies, is preparing for a potential USD 200 million (~INR 1,600 crore) IPO, as it strengthens its balance sheet through an INR 212 crore (~USD 24 million) Series C extension round led by Temasek’s Jongsong Investments.
Atomberg IPO Plans: Targeting Growth Capital and Investor Liquidity
Reports are floating around that Atomberg is in talks with investment banks regarding the IPO. The company plans to list as early as 2026. Atomberg IPO may include both new shares and secondary issuance from existing investors such as Temasek, Steadview Capital and Jungle Ventures.
Atomberg is looking at a pretty sizeable IPO of ~INR 1,600 crore, which is all part of the plan to tap into India’s thriving equity market. In 2024, IPOs raised INR 1,54,317.32 crore from the primary market in India and this year is no different with firms raising INR 1,59,524.02, so far.
According to reports, Atomberg aims to finalise its advisers in the coming weeks, with proceeds likely directed toward capacity expansion, supply chain strengthening, and broadening its product portfolio beyond fans, mixer grinders, and smart home appliances. The company also intends to enter new geographical markets within India.
Strategic Context: Riding India’s Energy-Efficient Appliance Boom
Founded in 2012 by Manoj Meena and Sibabrata Das, Atomberg has made a name in energy efficient BLDC (Brushless Direct Current) fans and smart home appliances. Initially the company catered to B2B clients—Tata Group, Infosys and Indian Railways—before moving to B2C channels through Flipkart and Amazon. Since 2018 they have expanded their offline retail network to over 15,000 touchpoints across India.
Atomberg’s growth is coinciding with increasing consumer awareness of energy savings and sustainability as electricity costs rise. Market analysts believe this structural demand for efficient appliances gives Atomberg a durable competitive advantage. Their product innovation, brand visibility and R&D led manufacturing model puts them well to capitalise on the shift towards smart and sustainable home technologies.
Atomberg Extended Series C Round
In parallel with IPO discussions, Atomberg raised INR 212 crore (~USD 24 million) in a Series C1/C2 extension, led by Jongsong Investments (Temasek). Atomberg extended Series C round also saw participation from Jungle Ventures, Inflexor Fund, and co-founders Meena and Das, who collectively invested INR 44 crore. The tranche values Atomberg at approximately USD 500 million post-money.
Temasek’s INR 132 crore contribution underscores continued confidence in Atomberg’s growth trajectory and execution capabilities. With this latest capital infusion, Atomberg’s total fundraising exceeds USD 150 million to date, including its USD 86 million Series C round in May 2023.
Financial Performance and Outlook
For FY24, Atomberg reported an INR 848 crore in operating revenue, representing 31% year-on-year growth, while losses narrowed by nearly 32%. These improving financials strengthen its IPO case, particularly given the broader trend of profitability-focused listings in India’s consumer and technology sectors.
Industry observers highlight that Atomberg’s valuation and eventual IPO pricing will hinge on:
- Sustained margin improvement and operating leverage in FY25.
- Execution of its manufacturing expansion plans.
- Demand strength in India’s premium appliance segment.
- Regulatory readiness and investor sentiment amid a crowded IPO pipeline.
Verdict
Atomberg’s dual-track strategy—raising late-stage private capital while preparing for an IPO—demonstrates a disciplined approach to scaling operations without overextending. Its strong backers (Temasek, Steadview, Jungle Ventures, and Inflexor) provide deep-pocketed support, while the consumer shift toward efficiency and sustainability provides secular tailwinds.
Bottom Line: Atomberg Technologies IPO plans and fresh Series C extension underscore its transformation from a niche fan manufacturer into a diversified, innovation-driven consumer brand. With Temasek’s continued support and India’s IPO market surging, the company stands poised to unlock new growth frontiers—both on the factory floor and the trading floor.
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