UpScalio-backed Green Soul registers 160 pc revenue growth for October

Gaming chair and furniture maker Green Soul Ergonomics registered a 160 percent increase in revenue for October — the first month since its partnership with UpScalio — the Thrasio-styled startup that invests in ecommerce brands.

According to a press statement, Green Soul’s performance in both Flipkart’s Big Billion Days and Amazon’s Great Indian Festival sales in October showed a significant increase of 225 percent over last year’s numbers during the same period.

The startup sold one chair every 50 seconds in the first week of October.

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Speaking on the performance of Green Soul, Nitin Agarwal, Co-founder and CGO, UpScalio, said,

“Green Soul was one of the largest investments of the entire roll-up space in India, and we’re aware of the responsibility that comes with it. Our first month with Green Soul coincided with the high-pressure occasion of festive sales, and we’re thrilled to have extended the brand’s dominance in its category.”

According to the statement, four of Green Soul's products were in the top 10 best selling category. UpScalio brings a mix of capital infusion and operational expertise into such ecommerce brands.

Ravi Khushwani, Founder, Green Soul Ergonomics, said, “In just a short time, we have seen our share of the category increase by 70 percent. We have achieved this without any significant changes to our product catalogue, and that is a great indicator of the strength of our partnership and UpScalio’s operational prowess.”

Green Soul was UpScalio’s first investment. It has also made similar partnerships with Trase and Polestar — two brands belonging to the comfort footwear and backpacks category, respectively.

UpScalio was founded in March 2021 by Gautam Kshatriya, Saaim Khan, and Nitin Agarwal, which acquires over 50 percent stake in online sellers working across furniture, home, baby, and pet care, among other categories.

So far, UpScalio has raised $47.5 million from Presight Capital and other marquee investors.