Funding · Commerce & Consumer Brands

Anveshan raises ₹150 crore Series B led by Vertex

What they do

Anveshan sells clean-label foods like A2 ghee and oils directly to consumers

The company raised ₹150 crore in a Series B round led by Vertex Ventures

Investors include IFC and Swiggy cofounder Sriharsha Majety at a $90M valuation

Anveshan has raised ₹150 crore in its Series B funding round.
Vertex Ventures Southeast Asia & India led the investment round for the startup.
International Finance Corporation (IFC) participated as an investor in this deal.
Swiggy cofounder Sriharsha Majety joined the group of participating investors.
boAt founders Aman Gupta and Sameer Mehta also invested in the round.
Existing backers Wipro Consumer Care Ventures and Titan Capital continued their support.
The company reached a post-money valuation of approximately ₹900-1,000 crore.
This follows a previous raise of ₹48 crore just last year.

Anveshan operates a direct-to-consumer (D2C) model for its products.
It sells items like A2 ghee, cold-pressed oils, and raw honey online.
The brand sources from rural micro-entrepreneurs with minimal processing methods.
Manufacturing occurs across 16 plants located in nine different states.
Revenue run rate stands between ₹280-300 crore currently.
Quick commerce accounts for roughly 35% of total sales channels.
Over 90% of revenue comes specifically from ghee and oil categories.
The company plans to consolidate units into five larger facilities.
Offline expansion includes modern trade stores and general trade networks.

Vertex Ventures Southeast Asia & India (lead) — Venture capital firm focusing on technology companies in Southeast Asia and India.
International Finance Corporation (participant) — Member of the World Bank Group focused on private sector development.
Sriharsha Majety (participant) — Cofounder of the Indian food delivery platform Swiggy.
Aman Gupta (participant) — Cofounder of the audio brand boAt.
Sameer Mehta (participant) — Cofounder of the audio brand boAt.

Product: Minimally processed food products such as ghee, cold-pressed oils, raw honey, and atta
Customers: Indian consumers buying food products through online and offline retail channels
How it makes money: Sells packaged food products directly to consumers and through omnichannel retail distribution
What sets it apart: Uses a network of rural producers and micro-entrepreneurs, along with sourcing and testing capabilities
Operations: Works with partner manufacturing, rural sourcing networks, and omnichannel distribution