7/8/2020
Atomberg to launch new range of home appliances - Reader Mode
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Atomberg to launch new range of home
appliances - Reader Mode
Shobha Roy Kolkata | Updated on September 13, 2019 Published on
September 13, 2019
Manoj Meena, CEO and Co-founder, Atomberg Technologies - Debasish Bhaduri
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The ceiling fan maker will introduce mixer,
grinder and air coolers, among others
Atomberg Technologies, which is into manufacturing of smart and
energy-e cient ceiling fans, is looking to launch other home
appliances such as mixer, grinder and air coolers.
The Mumbai-headquartered start-up founded by IIT Bombay
graduates is hopeful of launching the home appliances range in the
next 12-18 months. The company, which is currently present in 12-15
cities, is also looking to expand its operations by moving into newer
towns and cities.
“Our R&D team is working on it (home appliances) and we hope to be
able to launch the home appliances range including mixer, grinder and
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7/8/2020
Atomberg to launch new range of home appliances - Reader Mode
air coolers in the next 12-18 months,” Manoj Meena, CEO and CoFounder, Atomberg Technologies, told BusinessLine.
The company, which recently raised Series A fund of $10 million, will
utilise the same for product diversi cation as well as geographical
expansion.
Business growth
Since the time of its launch in 2015, Atomberg has sold close to 4
lakh units of ceiling fans till March 2019. The company is hopeful of
achieving 25 per cent growth in sales to touch 5 lakh units by March
2020.
The ceiling fan market in India is estimated to be around ₹10,000
crore and has been growing at a CAGR of around 8 per cent in the last
few years. However, the premium segment (fans priced at ₹2,0008,000) has been growing at a much faster rate of around 25 per cent.
“Though the contribution of the premium segment is around 15 per
cent (roughly about ₹1,500 crore) to the overall fan market, it has been
growing at a much faster pace. This clearly indicates that consumers
are moving towards premiumisation,” Meena said.
Atomberg, which sells its fans under the brand Gorilla, primarily
operates in the premium segment. The company hopes to be able to
garner 10 per cent share in the premium fans segment within the next
two years.
The company, which has been witnessing a three-fold growth in
business, expects to achieve a turnover of ₹100 crore by March 2020.
Nearly half of its sales come though online channel while the
remaining comes through o ine. It is present in around 1,200
counters across the 12-15 cities. Atomberg currently has 20 different
variants of fans in its portfolio. It recently launched IoT-enabled smart
fans which are Wi-Fi, Alexa and Google Home-controlled.
Published on September 13, 2019
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