After successfully launching a smart appliances and hardware company, two products from IIT-Bombay have decided to set up a power-saving brush-less DC motor manufacturing unit in Andhra Pradesh to save energy consumed by various types of fans.
“I met Chief Minister N. Chandrababu Naidu at the CII Partnership Summit and gave the proposal. We will decide the location of the plant sometime later,” Sibabrata Das, co-founder of Atomberg Technologies Pvt. Ltd., told The Hindu .
The motor could be used for ceiling fans, pedestal fans, exhaust fans, wall-mounted fans, large industrial fans as well asair-coolers, he said. “For three years we had to slog it out. In fact, during the first year of our incubation, we had no house. We managed to operate from our campus,” he stated. The seed capital of ₹1 crore was provided by Arati Chemical and Drugs, a Mumbai-based company. Later, the promoters could get venture capital funding of ₹9 crore from IDFC Parampara.
National award
The firm, which was started by Mr. Das and his senior Manoj Meena when they were students at IIT, won the National Entrepreneurship Award in 2017 in the renewable and energy-efficiency category, and received recognition from the Prime Minister and the NITI Aayog as ‘Champions of Change’ in the startup ecosystem.
Both the founders were recently listed on ‘Forbes India’s 30 under 30.’
