Temasek, Jungle Ventures to Raise Stake in Atomberg Before ₹1,000 Crore IPO

Mumbai-based smart appliance brand Atomberg Technologies is attracting heightened interest from late-stage investors Temasek Holdings and Jungle Ventures, who are in advanced talks to buy shares from early backers like Whiteboard Capital, Inflexor Ventures, and A91 Partners. The move comes as Atomberg prepares for a public listing next year, aiming to strengthen its investor base ahead of the IPO.

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Funding Round and Capital Realignment

The planned transaction is expected to be a $30-40 million round, predominantly secondary in nature, with a small primary component. Atomberg reportedly does not need fresh capital right now but is realigning its capitalization table before the IPO. The company has initiated discussions with external investors to finalize its valuation amid strong market demand.

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Bankers and Listing Preparations

Atomberg has approached several investment banks to manage the IPO process, with appointments expected in the coming months. Temasek and Atomberg declined to comment, while early investors have not yet issued a statement.

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Past Fundraising and Valuation

Over two years ago, Atomberg raised $86 million in Series C funding led by Temasek and Steadview Capital, valuing the company at $357 million, according to Tracxn data. The round also included Trifecta Capital, Jungle Ventures, and Inflexor Ventures, with some early investors making partial exits.

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Business Expansion and Product Diversification

Founded in 2012 by IIT-Bombay alumni Manoj Meena and Sibabrata Das, Atomberg began with smart, energy-efficient fans and has since expanded into mixer grinders, water purifiers, and other appliances. The company is focusing on boosting manufacturing capacity, launching new products, and expanding offline presence across India.

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Financial Performance

Atomberg’s revenue crossed ₹1,000 crore in FY25, up from ₹864.6 crore in FY24 and ₹649 crore in FY23. However, losses widened to ₹203.4 crore in FY24 from ₹138.4 crore a year earlier.

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Market Outlook

According to Redseer, the Indian appliances and electronics market is projected to grow from $75 billion in 2024 to $130-150 billion by 2029, driven by premiumization and rising demand for convenience-driven lifestyle products such as air fryers, juicers, and purifiers.