Pre-IPO funding talks heat up for Atomberg

The $30-40 mn round to be secondary as firm doesn't need fresh capital

- Priyamvada C

Atomberg Technologies' late-stage investors, Temasek Holdings and Jungle Ventures, are in talks to increase their stake in the smart fan maker by buying shares from early backers as the company gears up for a public listing next year, three people familiar with the matter said.

"These investors are in talks with Whiteboard Capital, Inflexor Ventures and A91 Partners to buy a part stake to increase their shareholding in the company," one of the people cited above said. "The investors are unlikely to completely exit until or after the IPO (initial public offering) unless they get a good price."

A second person said Atomberg is also in discussions with external investors to discover its valuation amid strong demand for the asset. The $30-40 million round will be largely secondary, with a small primary component, as the company does not currently require fresh capital.