Atomberg Technologies is moving closer to its long-awaited stock market debut, with marquee late-stage investors Temasek Holdings and Jungle Ventures in talks to increase their shareholding. The Mumbai-based smart appliance brand, best known for its energy-efficient fans and expanding product lineup, is realigning its investor base ahead of its planned IPO in 2026.
Realigning the Cap Table
People familiar with the matter revealed that Temasek and Jungle Ventures are negotiating with early backers such as Whiteboard Capital, Inflexor Ventures, and A91 Partners to acquire a part of their stakes. The move allows early-stage venture investors—who typically operate on fixed fund cycles—to secure returns at an attractive valuation while sidestepping post-listing lock-in periods. Importantly, these early investors are not expected to make a complete exit before the IPO unless they receive compelling offers.
The ongoing $30–40 million round is expected to be largely secondary, with only a small primary component since Atomberg currently does not require fresh funding. By consolidating ownership with long-term investors, the company aims to present a cleaner and stronger cap table to the market. Multiple bankers have already been approached for IPO mandates, with appointments likely to be finalized in the coming months.
A Journey of Growth and Expansion
This development follows Atomberg’s $86 million Series C funding round in 2022, led by Temasek and Steadview Capital, which valued the company at $357 million. That round also saw partial exits from some early investors, including A91 Partners and the Gogri family. Since then, Atomberg has used capital to scale manufacturing, expand offline retail presence, and launch new product categories.
Founded in 2012 by IIT-Bombay alumni Manoj Meena and Sibabrata Das, Atomberg began with smart, energy-saving ceiling fans before diversifying into mixer grinders, purifiers, and other home appliances. Its distribution now spans both online platforms and offline retail outlets, supporting steady revenue growth.
Financial Performance and Market Outlook
The company’s revenues have been climbing steadily, surpassing ₹1,000 crore in FY25 according to co-founder Das. In FY24, Atomberg reported revenues of ₹864.6 crore, up from ₹649 crore in FY23. However, its net loss widened to ₹203.4 crore from ₹138.4 crore a year earlier, reflecting high investment in growth and distribution.
Industry experts remain optimistic about Atomberg’s prospects given the strong tailwinds in the Indian appliances and electronics market. Consulting firm Redseer projects the market will nearly double from $75 billion in 2024 to $130–150 billion by 2029, fueled by rising demand for lifestyle-driven convenience, health-focused products, and a trend toward premiumization.
What This Means for the IPO Journey
According to legal expert Vishwang Desai, these pre-IPO stake realignments signal stability and investor confidence. Early venture funds achieve partial exits and returns, while long-term institutional investors consolidate their support. For Atomberg’s founders, this means entering the IPO with a streamlined ownership structure and heavyweight backers committed beyond the listing.
As Atomberg prepares for its public market debut, the message is clear: investors see the company as a pivotal player in India’s next phase of consumer appliance growth. With strong institutional support, a diversified product mix, and growing revenues, Atomberg’s IPO could be one of the most closely watched listings in the consumer tech space next year.
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