Clean-label food brand Anveshan has raised Rs 150 crore ($15.7 million) in a round led by Vertex Ventures Southeast Asia & India, with participation from the International Finance Corporation (a member of the World Bank Group), Swiggy cofounder Sriharsha Majety, and existing investors Wipro Consumer Care Ventures, Titan Capital, Force Ventures, and boAt founders Aman Gupta and Sameer Mehta.
ET reported on this round in March, which was set to value the startup at Rs 900-1,000 crore, more than doubling its April 2025 valuation of around Rs 430 crore.
The startup aims to use the funding to open more manufacturing units, expand its product portfolio, and build the brand, cofounder and chief executive Kuldeep Parewa told ET.
“This investment will help us strengthen our manufacturing and sourcing ecosystem, expand into newer categories, and make high quality clean food products accessible to a much larger consumer base across the country,” he said.
Last year, Anveshan had raised Rs 48 crore from Wipro Consumer Care Ventures, DSG Consumer Partners, and Titan Capital, among others.
The Gurugram-based startup is expected to close FY26 with Rs 200-220 crore in revenues, up from about Rs 75 crore in FY25. Currently, the startup is operating at an annual run rate of Rs 280-300 crore, according to the company.
Founded in 2020 by IIT Guwahati alumni Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan is a direct-to-consumer (D2C) clean-label food brand which offers A2 ghee, cold-pressed oils, raw honey, and Indian superfoods.
It has 16 manufacturing plants across nine states in the country. Its products are available on its own D2C website, which records 30% of the sales, ecommerce sites (30%), and quick commerce apps (30-40% of sales).
“Almost 50-55% of our revenue is coming from tier 2, tier 3 cities. We realise that consumers beyond the top cities are aware of what they should put in their body and want to buy clean products,” said Parewa.
Commenting on the funding, Kanika Mayar, partner, Vertex Ventures South East Asia and India, said, “India’s food and nutrition market is premiumising, with consumers seeking greater transparency, quality, and trust in the products they consume.”
Anveshan competes with brands like Two Brothers Organic Farms, Tata Sampann, and Organic Mandya.
