News Update
Leading Office Furniture Brand Transteel Raises funds
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ByManjeet Singh | October 11, 2021
Transteel, a retailer of direct-to-consumer office furniture aimed at small and midsize businesses, raised Rs 4 crore in expansion capital from Klub, a revenue-based financing company.
Transteel, which launched in May 2020, provides superior office furniture for startups, small businesses, and medium-sized businesses. The firm has been directly engaging with customers through pan-India shipping, which has helped them reach 40,000 online purchases since May 2020.
Shiraz Ibrahim, Managing Director of Transteel, commented on the funding, “It gives us great confidence that our investors are in line with our vision of promoting the consumer/MSME/SME verticals of Transteel. This funding will definitely help us in developing our business and will boost our mission of providing affordable furniture directly to the end consumer that is delivered and installed in as little as a week, with a “buy now, work now” approach to suit the fast-paced nature of start-up and small business culture.”
According to Anurakt Jain, co-founder and CEO of Klub, “What sets Transteel apart from other players, is their specialization in manufacturing office and home furniture offering a delightful mix of design, value for money, and most importantly ergonomics. Their digital-first approach to make furniture solutions accessible to a large set of customers disrupts the traditional retail model,”
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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