Home appliances startup Atomberg becomes an official partner of BCCI for 2024-2026 period

Over the last four years, Atomberg has seen a 10x surge in its scale, with revenue growing from ₹69 crore in FY20 to nearly ₹650 crore in FY23. Although losses hit ₹138 crore in the previous fiscal, the management has indicated possibilities of achieving profitability in FY24. The company claims to have hit ₹1,000 crore in annual recurring revenue (ARR).

“In the last couple of years, we have used the power of bilateral cricket by being broadcast sponsors for many marquee series. And looking at the excellent results in both brand and business metrics, this official partnership with BCCI was the next logical step for us,” added Paul.

For Atomberg, the sponsorship deal with BCCI has come within a year of raising $86 million in a funding round led by Temasek and Steadview Capital, who valued the company at around $400-$450 million.

The deal also marks a reversal in the trend of Indian startups pulling out of contracts or ignoring opportunities for cricket-related sponsorships to conserve cash and extend their runways. The number of startup sponsors fell from nearly 15 during IPL 2022 to just about three at the time of the World Cup 2023.

Notably, in 2023, Dream 11 signed a nearly $45 million deal with BCCI to become the new jersey sponsor for the Indian cricket team after BYJU’s terminated its contract with BCCI, which resulted in a legal flashpoint between the country’s cricket administrator and the beleaguered edtech giant.