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Mumbai, May 29 (PTI) Domestic consumer appliances brand <keyword id="3494843" type="General" weightage="20" keywordseo="Atomberg" source="Orion">Atomberg</keyword> on Monday said it has raised USD 86 million in a fresh funding round led by Temasek and Steadview Capital. The latest round of capital infusion has also seen participation from Trifecta Capital and existing investors Jungle Ventures and Inflexor Ventures via a mix of primary and secondary issuances, Atomberg said in a statement. The funds mopped under Series C round will be used to boost manufacturing capabilities, support new product launches, deepen offline presence across key regions and further consolidate company's position in the domestic consumer appliance market, it said. The new investment comes on the back of around 100 per cent year-on-year growth of the company, it stated. Founded in 2012 by technocrats and IIT Bombay alumni Manoj Meena and Sibabrata Das, Atomberg's product suite includes brushless direct current electric motor (BLDC) and smart fans, mixer grinders and smart locks with leadership in BLDC fans. The digitally native consumer appliance brand has presence across over 15,000 retail touch points across the country. "With this round of fundraising, our focus is on enhancing product development and improving our product suite," said Manoj Meena, co-founder and chief executive officer, Atomberg. Further, the company aims to expand on its new offerings including mixer grinders, the 'Aris' fan series and smart locks, Atomberg said and added that it also seeks to enhance R&amp;D capabilities to aid new product launches across various categories. "Atomberg's deep engineering expertise and focus on solving consumer problems through innovative products align perfectly with our strategy of backing the fastest growing companies across the consumer and technology sectors in India," said Ravi Mehta, founder and CIO at Steadview Capital. The company's focus on design and innovation has allowed it to reimagine these products, elevating their functionality, performance, and user experience, said Sibabrata Das, co-founder, Atomberg. "This round of funding will allow us to accelerate our growth, expand our team, and deliver even greater value to our customers," added Das "We had the opportunity to support them (Atomberg) with venture debt three years ago. Given their ability to build a large business, we are now excited to support their growth journey by investing from our growth equity fund," said Sandeep Bapat, Partner at Trifecta Growth Equity. Avendus Capital acted as the financial advisor to Atomberg on this transaction, the statement said.

Atomberg raises $86 million from Temasek, Steadview Capital and others

<ul><li>The Series B fundraising was led by <keyword id="6751330" type="UNKNOWN" weightage="20" keywordseo="A91-Partners">A91 Partners</keyword>, with participation from Trifecta Capital and Survam Partners.</li><li>Earlier, <keyword id="3494843" type="PERSON" weightage="20" keywordseo="atomberg">Atomberg</keyword> had raised $10 million in Series A funding in September 2019, and around $2.5 million prior to that.</li><li>Atomberg Technologies is a <keyword id="10397137" type="UNKNOWN" weightage="20" keywordseo="consumer-electronics-startup">consumer electronics startup</keyword> that manufactures fans.</li><li>Its motor technology uses up to 65% less power than regular fan motors.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>Consumer electronics startup Atomberg has raised ₹70 crore in its latest round of fundraising, led by venture capital firm A91 Partners. This Series B fundraising round also saw participation from Trifecta Capital and Survam Partners. This latest round of funding means Atomberg has so far raised ₹160 crore (approx. $22 million). It had raised $10 million in Series A funding led by A91 Partners, along with Whiteboard Capital Fund and Survam Partners. Prior to that, it had raised $2.5 million from IDFC Parampara and Survam Partners. Atomberg Technologies was founded in the IIT Bombay campus in 2012 by Manoj Meena and Sibabrata Das. It was the winner in the ‘Best on Campus’ category in <a href="https://economictimes.indiatimes.com/tech/funding/atomberg-technologies-secures-rs-70-crore-funding-led-by-a91-partners/articleshow/79618514.cms">The Economic Times Startup Awards 2019</a>. Its fans use up to 65% less power when compared to regular fans. Atomberg makes a range of energy-efficient fans. It has a manufacturing facility in Navi Mumbai with a capacity of 1 lakh fans per month. It has a distribution network of over 6,000 counters across the country; and is also present on major e-commerce portals in India. <div type="Article" hostid="261" msid="79544185" title="PhonePe raises $700 million at a $5.5 billion valuation, will operate as a separate entity" mstype="2" mssubtype="0"></div> Atomberg’s recent fundraising rounds <div type="image" title="Atomberg Tech fundraising" msid="79623141" hostid="261"></div> The company plans to use these funds to expand its portfolio of products as well as its production capacity. It has plans to launch home appliances like air coolers, mixers, and grinders, said the company’s co-founder Manoj Meena in an interview to <a href="https://www.thehindubusinessline.com/companies/atomberg-technologies-to-launch-new-range-of-home-appliances/article29402260.ece">BusinessLine</a>. “With this fresh round of funding, we believe we have the right ammunition required to create the kind of consumer brand we visualized a few years back,” said Manoj Meena, cofounder and chief executive of Atomberg Technologies “We have successfully scaled up to an annual revenue run rate of more than ₹150 crore and we are bullish about continuing this rate of growth for the next few years,” Meena added. “Over the last 12 months, we have grown significantly across all channels. Our offline distribution has grown by leaps and bounds, and we have also consistently been one of the top brands in e-commerce in our category,” he further said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/phonepe-700-million-5-5-billion-valuation-flipkart-separate-entity/articleshow/79544185.cms">PhonePe raises $700 million at a $5.5 billion valuation, will operate as a separate entity</a> <a href="https://www.businessinsider.in/business/startups/news/this-former-uber-india-executive-is-now-building-kyt-a-startup-that-offers-extra-curricular-activities-for-children/articleshow/79505386.cms">This former Uber India executive is now building a startup that offers extra-curricular activities for children</a> <a href="https://www.businessinsider.in/business/startups/news/kunal-shah-cred-raises-80-million-valuation-doubles-to-800-million-for-the-just-two-year-old-startup/articleshow/79502864.cms">Kunal Shah’s CRED raises $80 million — valuation doubles to $800 million for the just two-year old startup</a>

A Mumbai-based startup that sells power-saving fans has raised over $20 million so far

<ul><li>The current round of funding also saw participation from existing investor Omnivore. </li><li><keyword id="11940625" type="General" weightage="100" keywordseo="bioprime" source="Orion">Bioprime</keyword> develops affordable agri-biologicals that improve crop resistance to insects/pests. </li><li>It aims to utilise the funds for its <keyword id="15213500" type="General" weightage="50" keywordseo="snipr-biologicals" source="Orion">SNIPR Biologicals</keyword> registrations, advancing the discovery platform, building a strong IP portfolio and increasing production capabilities. </li></ul>Tech-focused venture capital (VC) fund <keyword id="9902884" type="General" weightage="50" keywordseo="inflexor-ventures" source="Orion">Inflexor Ventures</keyword> led a pre-series A funding of ₹9-crore in <keyword id="6355165" type="General" weightage="20" keywordseo="agriculture" source="Orion">agriculture</keyword> <keyword id="45082" type="General" weightage="20" keywordseo="biotech" source="Orion">biotech</keyword> startup BioPrime Agrisolutions. The funding round also saw participation from BioPrime’s existing investor, Omnivore. BioPrime aims to utilise the funds for SNIPR Biologicals registrations, advancing the discovery platform, building a strong IP portfolio and increasing production capabilities. BioPrime – founded by <keyword id="15213499" type="General" weightage="50" keywordseo="renuka-karandikar" source="Orion">Renuka Karandikar</keyword>, Amit Shinde and Shekhar Bhosle in 2016 – develops affordable agri-biologicals that improve crop resistance to insects/pests and help crops manage abiotic stress such as high temperature, excessive water, drought, etc. These products are non-chemical based, residue-free, organic, and are less expensive than chemical-based fertilisers and pesticides – thereby reducing the overall farm input expenses, claims Pune-based BioPrime. “BioPrime works to transform the way we grow crops, making food more nutritious and residue-free while restoring soil health using cutting-edge technologies and approaches, always keeping sustainability at our core,” Karandikar, CEO of BioPrime Agrisolutions, said. The company was focusing on discovering fundamental aspects of plant communication, developing novel biologicals based on trait-modifying microbes and physiology-modulating molecules, she added. “We believe that the stellar founding team of BioPrime is well equipped to solve the complex food security problem brought to the forefront by climate change. The IP-led, high-throughput biomolecule discovery platform will facilitate faster market access. Such a technology platform fits well with Inflexor’s investing thesis of backing impactful, pure science companies from the Indian deep tech ecosystem,” said Pratip Mazumdar, Partner at Inflexor Ventures. Inflexor has invested in 10 companies so far since November 2020 including Atomberg, <keyword id="9291914" type="General" weightage="50" keywordseo="gramcover" source="Orion">GramCover</keyword> and <keyword id="3456849" type="General" weightage="50" keywordseo="kale-logistics" source="Orion">Kale Logistics</keyword>. “BioPrime is an excellent example of an invention designed to improve human and planetary health alongside farmer incomes and we are delighted to back them," Jinesh Shah, Partner at Omnivore Partners said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/mumbai-international-airport-switches-to-green-sources/articleshow/94761659.cms">Mumbai International Airport switches to Green sources</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/mulayam-singh-yadav-journey-of-samajwadi-party-founder-netaji/slidelist/94755024.cms">From wrestler to veteran politician – Life and times of ‘Netaji’ Mulayam Singh Yadav</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/heres-how-you-can-cope-with-burnout-at-work/articleshow/94761472.cms">World Mental Health Day: Here’s how you can cope with burnout at work</a>

Agri-bio startup BioPrime Agrisolutions raises ₹9 crore in funding round led by Inflexor Ventures

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Atomberg raises $86 million from Temasek, Steadview Capital and others

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A Mumbai-based startup that sells power-saving fans has raised over $20 million so far

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Agri-bio startup BioPrime Agrisolutions raises ₹9 crore in funding round led by Inflexor Ventures

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