Atomberg Technologies, an Indian home appliances company, announced on Monday that it has raised $86 million in a new funding round led by Singapore's Temasek Capital and India-focused asset manager Steadview Capital Management LLC.

"With this round of fundraising, our focus is on enhancing product development and improving our product suite," said CEO Manoj Meena.

According to the company, Trifecta Capital, along with existing investors Jungle Ventures Pte Ltd and Inflexor Ventures LLP, participated in the Series C round through a mix of primary and secondary issuances.

Atomberg, which competes with Havells India Ltd and Crompton Greaves Consumer Electricals Ltd in its mainstay product, fans, set a revenue record of 1 billion rupees ($12.23 million) in March, according to Chief Business Officer Arindam Paul.