[Funding alert] Foodtech startup and D2C brand Anveshan raises Rs 1.12 Cr from Titan Capital
Bengaluru-based foodtech startuphas raised Rs 1.12 crore in the pre-seed funding round led by Titan Capital to focus on expanding its supply chain and operations across India.
"We are able to see Anveshan solving quality and trust issues in food products. Even customers can trace the origin of products like A2 ghee, spices, and edible oil. This is especially a big need in the busy urban population who want to be relaxed about the quality of raw material being used in the kitchen to remain super healthy and immune in this new world," said Bipin Shah, Partner at Titan Capital.
The startup creates food micro-entrepreneurs in villages across India who make these food products using traditional practices while ensuring quality control through traceability. According to Anveshan, this model ensures the quality of the food product for the customers, along with social and economic upliftment of the Indian farmers.
With a vision to provide quality and healthy food products, a significant pie of the investment will also be used for food research and the development of technical solutions and devices that can track food quality.
Aayushi Khandelwal, Co-founder, Anveshan added,
“We want our customers to take pride while buying Anveshan food products as not only are they contributing to their own health but also impacting the lives of Indian farmers. Also, with a trend towards healthier lifestyle, the market’s potential in India itself is huge and we envision expanding globally over time.”
Co-founded in late 2019 by three IIT Guwahati graduates — Aayushi Khandelwal, Akhil Kansal, and Kuldeep Parewa, Anveshan wants to change how food is perceived today by making people aware of the manufacturing process and providing them super nutritious and tasty food products.
Akhil Kansal, Co-founder, Anveshan, said,
“Due to misleading advertisements and false marketing of food products, consumers have lost the feeling of trust in food brands. Customers are being deceived by such campaigns and they blindly trust what is written on the label. We want to be that brand that provides the purest and most natural kind of food with a proof of quality through our traceability solution.”
Co-founder Kuldeep Parewa also stated that the startup aims to create thousands of jobs in villages through Anveshan.