Source: Wipro
Anveshan, a fast-growing D2C brand for health-conscious traditionally made food products, is raising ₹29.86 crore (approximately $3.5 million) in Series A funding with Wipro Enterprises as the lead investor. Other participating in the round include DSG Consumer Partners, Titan Capital, boAt co-founders Aman Gupta and Sameer Mehta, and AngelList.
Funding Details
Filing with the Registrar of Companies (RoC) states that upon a special resolution passed by Anveshan’s board, a total of 1,178 Series A compulsorily convertible preference shares (CCPS) and 10 equity shares will be issued at ₹2,51,367 each. The funds will be used to enhance the long-term financial base of the company and support the growth strategy.
In line with Entrackr’s report, the valuation of the company will increase to about ₹430 crores ($51 million), from the previous $19 million in the prior round. With investment:
Anveshan now has a cumulative amount of $4.5 million raised. DSG Consumer Partners will now be the greater shareholder, with 16.59 percent, at the end of this funding round. Wipro Enterprises acquires a 3.49 percent stake in the company, per TheKredible.
Company Overview
Established in the year 2020 by Aayushi Khandelwal, along with Akhil Kansal and Kuldeep Parewa, Anveshan manufactures minimally processed food products by rural micro-entrepreneurs who use traditional practices in their making. The organization aims to ensure that only superlative food reaches the customer while elevating the rural communities socio-economically. Company’s Current Product Portfolio includes A2 cow ghee, Wood-pressed edible oils, Raw honey, Healthy sweets, Beverage mixes, Other natural food products
Financial Performance
Anveshan has come a long way:
Operating revenue grew by 85% from the last fiscal year to ₹58 crore in FY24 (previously ₹31.3 crore in FY23). Also, losses were cut down by 24% from ₹7.5 crore to ₹5.7 crore.
Market Position
Operating in the competitive organic food space, Anveshan rivals brands such as Vedic, Auric, Kapiva, Two Brothers Organic Farms, Rosier Foods. Its focus on rural production and traditional practices offers a unique advantage. Strategic Fit with Wipro’s D2C Vision Wipro Consumer Care plans to invest over ₹100 crore in D2C startups Wipro supports its investees through market access, supply chain aid, and R&D expertise.
Conclusion
Moreover, Wipro’s outlay in Anveshan is another boost to its growing D2C endeavor, while also being in line with a conscious health-oriented brand. With complete focus on transparency, empowerment at the grassroots level, and traditional quality, Anveshan is well poised to grow sustainably in India’s changing food ecosystem.
