Exclusive: Parampara Capital invests $1 mn in appliances maker Atomberg

Atomberg Technology Pvt Ltd, a Mumbai-based startup that is developing energy-efficient and smart household appliances, has raised about $1 million (Rs 6.7 crore) in a pre-series A round from venture capital firm Parampara Capital. The startup aims to use the funds to enhance its manufacturing capacity and develop products. It will also use the funds for brand building and marketing on online platforms, Manoj Meena, co-founder and CEO of Atomberg, told VCCircle. This is the second investment that the VC firm has made from its Parampara Early Stage Opportunities Fund I, which had a target to raise about $16 million to back early-stage startups. Last October, Parampara Capital invested around Rs 6.5 crore to pick up a significant minority stake in the Mumbai-based software products company S-Cube Futuretech Pvt Ltd. Read More…