Comments
Atomberg Technologies, a company known for its energy efficient smart fans, is looking to diversify into other product categories, including mixer grinder, air coolers, with its brushless DC motors.
The Mumbai-based company founded by IIT Bombay tech grads, has begun to make inroads into the premium category of ceiling fans manufactured at their plant in Navi Mumbai.
Manoj Meena, Founder Director of Atomberg Technologies, said, “We have been an innovative company from day one having put together a number of technologies in bringing out the five star rated ceiling fan with brushless DC motors, which are energy efficient.”
“With first pre series A funding from IDFC Parampara Capital, we set up a plant in Navi Mumbai and have gradually ramped it up. Our product has been well received and most of the sales have been through online e-commerce platforms like Amazon and Flipkart. We are now looking at offline sales network to reach out to new locations,” he said.
“The country’s fan industry is estimated to be about 5 crore fans per annum with an overall value of ₹ 10,000 crore. Of this, the premium segment fans, priced ₹2000 and above, accounts for about 15 per cent. We are looking to garner a 10 per cent share of this premium segment,” he said.
“The company is also evaluating the prospect of setting up of a manufacturing unit in South India. Hyderabad is already a major hub for manufacture of fans and we source some of the inputs that go into manufacture of fans. We had signed an MoU with Andhra Pradesh Government for setting up a facility,” he said.
“The brushless DC technology can be used in a number of appliances. We are looking at mixer grinder, air-coolers and some other appliances. As a part of our efforts, we are in talks with some of the OEMs,” he said.
“The BLDC based motors have a number of applications, including in electric vehicles. There is potential to re-design our in house developed motors for EVs as well,” Meena said.
“The company fans have been deployed in several major corporate houses, public places like Railway stations as also in IIT. We expect to close this fiscal with revenues of about ₹ 35-₹ 43 crore and double it to ₹ 80 crore next year,” he said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.