Anveshan Secures Funding to Enhance D2C Food Brand

D2C food brand Anveshan has successfully secured Rs 121 crore ($12.7 million) in its Series B funding round, led by Vertex Ventures. Participation also came from the International Finance Corporation (IFC), Titan Capital, Wipro Enterprises, and angel investors including boAt’s co-founders Aman Gupta and Sameer Mehta, alongside Swiggy’s co-founder Sri Harsha Majety. This funding follows nearly a year after Anveshan raised Rs 48 crore in a Series A round, which was led by Wipro Consumer Care Ventures in April last year through a combination of primary and secondary transactions. The news was initially reported by Startup Superb.

According to regulatory filings obtained by Startup Superb, the board has green-lighted the issuance of 2,853 compulsory convertible preference shares (CCPS) at a nominal price of Rs 4,23,952 each to gather the described funds. Vertex Ventures spearheaded the funding with an allocation of Rs 75 crore, while IFC contributed Rs 31 crore. Ongoing investors Titan Capital Winners Fund and Wipro Enterprises invested Rs 6 crore and Rs 5.9 crore respectively. boAt co-founders Aman Gupta and Sameer Mehta re-injected funds, each contributing Rs 38 lakh. Additional capital came from ALTrust, Force Ventures, and Swiggy co-founder Sri Harsha Majety.

Startup Superb’s analysis indicates that Anveshan’s valuation nearly doubled to Rs 846 crore (around $89 million) in this latest funding, compared to Rs 430 crore (about $51 million) during its preceding Series A funding round. The funding will augment the company’s long-term financial resources, as outlined in the regulatory documents.

A report from the Economic Times in March mentioned that Anveshan aimed to raise between Rs 150-200 crore in its next funding round. Established in 2020 by Aayushi Khandelwal, Akhil Kansal, and Kuldeep Parewa, Anveshan offers minimally processed food items sourced from rural areas. The brand fosters food micro-entrepreneurs in various Indian villages who produce these products using traditional methods. This approach not only ensures high quality for consumers but also supports the social and economic advancement of Indian farmers.

Currently, Anveshan’s product range features A2 cow ghee, wood-pressed edible oils, raw honey, nutritious sweets, beverage mixes, and an assortment of other natural food items. Following this funding round, Vertex Ventures gained an 8.87% stake in Anveshan, while IFC now holds a 3.66% stake. Wipro Enterprises and Titan Capital Winners Fund have increased their share to 3.69% and 3.25%, respectively. The co-founders of the company collectively maintain a 47.63% ownership.

While Anveshan has yet to disclose its FY26 financials, its revenue rose to Rs 77.08 crore in FY25, up from Rs 46.84 crore in FY24. However, losses also escalated, reaching Rs 11.88 crore from Rs 5.74 crore in the same timeframe.