Vertex Ventures Leads USD 12.7 Mn Investment in Anveshan

D2C food brand Anveshan has raised INR 121 crore (around USD 12.7 million) in its Series B funding round, according to regulatory filings reviewed by Entrackr. The round was led by Vertex Ventures with participation from International Finance Corporation (IFC), Titan Capital, Wipro Enterprises and a group of angel investors.

Vertex Ventures emerged as the largest contributor, investing INR 75 crore, followed by IFC with INR 31 crore. Existing investors Titan Capital Winners Fund and Wipro Enterprises infused INR 6 crore and INR 5.9 crore, respectively.

Among the angel investors, boAt co-founders Aman Gupta and Sameer Mehta reinvested INR 38 lakh each, while additional contributions came from ALTrust, Force Ventures and Swiggy co-founder Sri Harsha Majety.

The latest funding comes nearly a year after Anveshan raised INR 48 crore in its Series A round in April last year, which was led by Wipro Consumer Care Ventures. The current round involved the issuance of 2,853 compulsory convertible preference shares at a price of INR 4,23,952 per share to raise the total amount.

Founded in 2020 by Aayushi Khandelwal, Akhil Kansal and Kuldeep Parewa, Anveshan focuses on producing minimally processed food items sourced and prepared in rural India. The company works with village-based micro-entrepreneurs who use traditional methods to manufacture its products. This model aims to maintain product quality while also supporting rural livelihoods and farmers.

Anveshan’s product range includes A2 cow ghee, wood-pressed oils, raw honey, sweets, beverage mixes and other natural food products.

Following the completion of the Series B round, Vertex Ventures holds an 8.87% stake in the company, while IFC has acquired 3.66%. Wipro Enterprises and Titan Capital Winners Fund have increased their stakes to 3.69% and 3.25%, respectively. The company’s co-founders collectively retain a 47.63% ownership in the business.