The round also saw participation from other angel investors including Amit Jain and Amit Hooja (Netgraph), Vardhman Group, and Rahul Sharma (Zetwerk).
The brand plans to use the fresh capital to hire talent, standardize operational processes and R&D of existing and new product categories, and expand its reach in the premium retail stores of Mumbai, Delhi NCR, and Bengaluru.
Founded in 2020 by IIT Guwahati graduates, Aayushi Khandelwal, Akhil Kansal, and Kuldeep Parewa, Anveshan provides minimally processed food products prepared traditionally in rural areas. Their current product portfolio includes A2 cow ghee, wood-pressed edible oils, raw honey, healthy sweets, and beverages.
Speaking on the funding round, Anveshan founders in their joint statement said, “We are passionate about Indian age-old superfoods and traditional wisdom passed down by our grandmas. Bringing back those recipes in a way that interests the modern generation is our ultimate goal.”
“Anveshan’s remarkable growth in the last two years has shown strong consumer demand for Indian-origin authentic food products. In general, heavy food processing in factories and the addition of preservatives have led to the deterioration of food quality in the market,” it added.
“We are setting-up micro food-processing units near the farms to bring the best of the food materials directly from farmers to consumers. This setup helps in efficiently shortening the supply chain, adding value to farmers’ raw produce and generating employment opportunities in the rural areas,” the statement further added.
Commenting on investing in the food brand, Hariharan Premkumar, Investment Director & Head of India, DSG Consumer Partners said, “We are excited to deepen our partnership with the Anveshan team on their journey to build the leading ‘minimally processed’ food brand in India. The team is committed to empowering and facilitating fair trade with the farmers by setting up micro-processing units near the farms. The brand has grown rapidly in a capital efficient manner and is well poised to be a leading food brand trusted by customers for quality, traceability, and transparency.”