D2C Startup Anveshan Raises INR 3.67 Cr In Seed Funding Led By DSG Consumer Partners, Titan Capital And Others
The company aims to utilize the funds to hire new talent and strengthen and standardize its manufacturing units
Anveshan, a direct-to-consumer (D2C) healthy food brand, on Thursday announced that it raised seed funding of INR 3.67 crore, which was led by DSG Consumer Partners along with Titan Capital and Anjali Bansal from Avaana Capital. This funding round also saw participation from existing investors and angels, including boAt Lifestyle and Beardo founders.
The company aims to utilize this raised capital to hire new talent and strengthen and standardize its manufacturing units. The funds will also be used to enhance the startup’s operational processes, improve quality control parameters, and R&D of new product ranges.
“We, as a brand, wish to become the platform that bridges the gap between farmers and end-consumers. The proceeds will be used to propel our quality control methods, raw material sourcing, research and development (R&D) of new products, and packaging innovations. We are also looking to establish in-house labs for our product testing,” said Aayushi Khandelwal, co-founder, Anveshan.
“We envisage Anveshan to be synonymous with health. We intend to develop and provide better products that surpass those in the market and meet consumer demands. We are working to build end-to-end traceability for all our products. We want to set up micro-processing units in rural areas, and thus boost rural employment while catering the quality food to our consumers,” stated Akhil Kansal, co-founder, Anveshan.
Founded in early 2020 by three IITG alumni Aayushi Khandelwal, Akhil Kansal, and Kuldeep Parewa, Anveshan has reported a growth of twenty-five-time in its revenue in the last 18 months. The company plans to increase the sales contribution from its own website and app and set up more fast-moving consumer goods (FMCG) distribution channels next year.
“The mission of Anveshan will always be to boost the rural economy by setting up more and more small enterprises in villages. At the same time, we need to bridge the gap between our farmers and end consumers,” shared Kuldeep Parewa, co-founder, Anveshan.
“Anveshan is a startup with a clear vision and fabulous team. It aspires to change the food industry landscape in India, bringing natural and unprocessed products to the forefront. The brand glorifies the hidden gems of natural local Indian food and emphasizes our long-lost traditional wisdom. We are sure that the company will excel in rendering quality products to its customers,” added Hariharan Premkumar, investment director and head of India, DSG Consumer Partners.