EPACK Durable Pvt Ltd has raised a $40-million round led by private equity fund Affirma Capital. To increase the company’s fund capacity in brownfield and greenfield projects for the RACs scheme named production linked incentive scheme. The target has to be set by the company to 3.6 million units by 2023. Also, the fund has raised $24 million from ICICI Ventures.

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This company is India’s leading brand of household appliances and also includes foreign brands. EPACK manufactures RACs in Bhiwadi and Dehradun. More than 2.4 million RACs and one million small household appliances are installed. The additional capacity will further focus on backward integration for components. 

“As the penetration of ACs and home appliances increases, it is well positioned for significant growth,” media reported. More than Rs 900 crore revenue has posted in FY22, doubling to Rs 1,700 crore this financial year. Also, the contribution of Voltas is 35 per cent to 40 per cent of its revenue in the RAC segment.