Indian Startup KARBAN Secures $1.07 Million in Seed Funding to Revolutionize Smart Appliances Market

• ByStartupStory     |    April 24, 2024

Karban Envirotech, an innovative startup focusing on energy-efficient electronic appliances, has successfully raised a seed funding of Rs 8.93 crores ($1.07 million). The funding round was led by prominent investors including Titan Capital, Rainmatter, and All In Capital.

This new investment will enable Karban to expand its research and development, enhance team capabilities, and foster new product development. The company is known for its high-end consumer appliances that not only provide essential services but also prioritize energy efficiency and sustainability.

Karan Bansal, co-founder of Karban, expressed his enthusiasm about the new funding. “We feel incredibly fortunate to have experienced partners who are not only supportive but also share our vision wholeheartedly. This funding marks a significant milestone, enabling us to accelerate our R&D efforts and develop world-class consumer products that are proudly Made in India,” said Bansal.

Karban’s flagship product, the Karban Airzone, is a multifunctional device that serves as a bladeless ceiling fan, air purifier, and light. This product represents a significant advancement in the smart appliance market, providing a 3-in-1 solution that enhances interior comfort while being energy efficient.

Kushal Bhagia, founder of All In Capital, commented on the product’s uniqueness, stating, “While India witnesses a splurging demand for Air Purifiers, a separate unit plugged in one corner of the room is inefficient and Air Purification solutions have seen little innovation. Karban’s Airzone is the 2024 alternative to existing Air Purifiers and ceiling fans both. It is a 3-in-1 Air Purification solution which integrates a ceiling light and a ceiling fan offering consumers an amazing value proposition.”

Rainmatter Capital also praised the innovation and design improvements in products made in India, noting Karban’s significant role. “They offer a purifier, fan and light within the same device, which naturally reduces material footprint. And in addition to the energy efficiency of the device, there is significant saving of power at scale,” the Rainmatter team observed.

Bipin Shah, Partner at Titan Capital, highlighted the investment’s alignment with supporting local manufacturing initiatives. “We are thrilled to announce our investment in Karban which is a true example of supporting Make in India. The team has come up with innovative all-in-one product for ceiling fan, Air purifier, and chandelier with inhouse R&D, Design, and Manufacturing. The products are not only energy efficient but also sustainable and aesthetically pleasing,” Shah said.

The Indian market for smart consumer appliances is vast, with an estimated value of Rs 50,000 crore. Karban aims to capture a significant portion of this market by introducing products that are smart, beautifully designed, and sustainable. Founders Karan Bansal and Tanya Goyal bring a blend of engineering and legal expertise to the table, driving Karban towards a future of low environmental impact and high energy efficiency in home and office environments.

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