Gurugram-based food-tech startup Anveshan Farm Technologies Private Limited has raised Rs 121 crore in a fresh Series B funding round, marking one of the biggest growth milestones for the direct-to-consumer natural foods brand. The funding comes at a time when Indian consumers are increasingly shifting towards clean-label, traceable, and minimally processed food products.
The latest investment round was led by Vertex Ventures, which invested Rs 75 crore, while the International Finance Corporation (IFC) contributed Rs 31 crore. Existing and strategic investors including Titan Capital, Wipro Enterprises, boAt co-founders Aman Gupta and Sameer Mehta, and Swiggy co-founder Sri Harsha Majety also participated in the round.
The fresh capital is expected to help the startup expand its supply chain, strengthen its quick commerce presence, and scale operations across India.
Valuation More Than Doubles After New Funding
The latest funding round has significantly boosted Anveshan’s market value. Before the Series B raise, the company was reportedly looking to secure funding at a valuation between Rs 900 crore and Rs 1,000 crore. This marks a sharp jump from its previous valuation of around Rs 430 crore in April 2025.
The strong valuation growth reflects rising investor confidence in India’s fast-growing healthy foods and organic products segment. The company has positioned itself as a premium yet trusted brand offering traditional Indian food products with modern traceability features.
Founded in 2020, Anveshan focuses on products such as wood-pressed oils, A2 bilona cow ghee, natural honey, and other minimally processed food items. The startup claims its products are sourced directly from farmers while maintaining high transparency in the supply chain.
IIT Guwahati Founders Built a Traceable Food Brand
Anveshan was founded by IIT Guwahati alumni Kuldeep Singh Parewa, Akhil Kansal, and Aayushi Khandelwal. The company was incorporated on January 22, 2020, and is registered under RoC Delhi with the Corporate Identification Number (CIN) U52609HR2020PTC125091.
Although the startup is widely known as a Gurugram-based company, its registered office is located in IMT Manesar, Haryana.
One of the company’s biggest selling points is its tech-enabled traceability system. Every product includes a QR code that allows consumers to track the source of the food they are buying. This farm-to-fork model has helped Anveshan stand out in a crowded natural foods market where customers increasingly demand transparency and authenticity.
The company follows an asset-light business approach and works closely with farmers and manufacturing partners. According to the startup, products move from farms to shelves within 12 to 24 hours and reach consumers shortly after through its controlled cold-chain system.
Quick Commerce Push Driving Expansion
Anveshan has also aggressively expanded through quick commerce platforms such as Zepto, Blinkit, and Swiggy Instamart. This strategy has helped the company rapidly improve visibility among urban consumers looking for instant delivery of premium grocery products.
However, scaling through quick commerce comes at a cost. Industry estimates suggest D2C brands often pay commissions ranging from 30% to 45% on such platforms. Despite the higher expenses, Anveshan appears focused on using these channels to strengthen customer reach and brand recall.
The startup competes with several emerging health-food and organic brands including Vedic, Auric, Kapiva, Two Brothers Organic Farms, Rosier Foods, and The Whole Truth.
Industry experts believe brands offering authenticity, clean sourcing, and regional traditional products are witnessing stronger demand from young Indian consumers, especially in metro cities.
Revenue Growth Continues Despite Rising Losses
Anveshan has recorded strong revenue growth over the past three financial years, though profitability remains a challenge as the company continues to invest heavily in expansion. In FY2023, the company reported operating revenue of Rs 31.3 crore. Revenue jumped 85% year-on-year in FY2024 to Rs 58 crore, while net losses narrowed by 24% to Rs 5.7 crore.
The company’s financial position improved significantly during the same period, with net worth rising by more than 140% and total assets growing by over 113%. In FY2025, Anveshan’s revenue further increased to Rs 77.5 crore, reflecting a growth of nearly 65%. However, aggressive spending on scaling operations, marketing, and distribution pushed net losses up sharply to Rs 11.8 crore.
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According to its latest ROC filings, the company currently has an authorised capital of Rs 10 lakh and a paid-up capital of Rs 1.63 lakh. It also carries Rs 13 crore in open charges and Rs 10 crore in satisfied charges, including a modified charge with HSBC Bank worth Rs 8 crore in late 2025.
Funding Journey Shows Rapid Investor Interest
The latest Series B round is the biggest funding milestone for Anveshan so far, but investor interest in the startup has been growing steadily over the years.
The company first raised Rs 1.12 crore from Titan Capital in October 2020. In 2021, it secured further backing from We Founder Circle and later raised Rs 3.67 crore in a round led by DSG Consumer Partners and Titan Capital.
In May 2025, the startup raised Rs 48 crore in its Series A round led by Wipro Consumer Care Ventures along with participation from existing investors and angel backers.
With the latest Rs 121 crore funding round, Anveshan now appears ready to accelerate its expansion plans and strengthen its position in India’s rapidly growing natural and healthy foods market.