Atomberg, a home appliance startup, is diversifying its revenue streams by venturing into manufacturing components for large appliances. The Mumbai-based company aims to bolster its financial standing ahead of an anticipated IPO. Atomberg is set to file for a $220 million IPO and is currently in discussions with its board to finalize the public listing details. The company is projected to achieve a 25-30% growth in operating revenue for FY26.
Atomberg’s strategic move involves investing ₹150-200 crores to establish a 1.5 lakh sq ft manufacturing facility in Pune. The startup’s subsidiary, Atomberg Innovation Private Limited, is now involved in designing and producing motors and controllers for air conditioners, refrigerators, and washing machines supplied by original equipment manufacturers (OEMs). Atomberg has secured collaborations with major OEMs such as Godrej and Voltas as component providers, with plans to expand its clientele further.
The company’s founder and CEO, Manoj Meena, highlighted the successful development of India’s first indigenous compressors for air conditioners, attributing this milestone to the growing traction of their B2B venture. Atomberg aims to extend its B2B operations beyond the household appliance industry, targeting sectors like automobiles, industrial applications, medical equipment, defense, and space. The company already has agreements in place for utilizing its motor technology in drone applications and is partnering with European firms for industrial-scale AC motor production.
Source: Inc42 Media