Why smart appliances have VCs hooked

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Subscribe to enjoy similar stories. BENGALURU : For consumer brands, smart appliances are the next big thing. And venture capitalists are looking to seize the day by betting on new companies making everything from smart chimneys and hobs to artificial intelligence (AI)- powered cooking assistants and internet-of-things (IoT)- enabled products.

Over the past six to twelve months, they have backed about half a dozen startups, including Beyond Appliances, Upliance, and Karban, with $1-4 million early-stage cheques. While Beyond Appliances and Upliance are automating cooking functions through AI, Karban leverages CFD (computational fluid dynamics) technology and aerospace engineering to optimize the efficiency of airflow devices like fans and air purifiers. On2cook, Alste Technologies and Keus have also raised funding to make kitchens smarter through technology.

Consumer appliances brand Atomberg Technologies was among the first new-age companies to have tapped into the segment. It raised $86 million in its series C funding round led by Temasek Holdings and Steadview Capital Management in 2023. The company, which launched a series of IoT-enabled smart ceiling fans in 2023, is growing rapidly and has seen its revenue from operations rise 31.5% to ₹848 crore in 2023-24 from ₹645 crore a year ago.