D2C food brand Anveshan has raised Rs 121 crore ($12.7 million) in a Series B round led by Vertex Ventures, with participation from International Finance Corporation (IFC), Titan Capital, Wipro Enterprises, and angel investors including boAt co-founders Aman Gupta and Sameer Mehta, along with Swiggy co-founder Sri Harsha Majety. The funding comes nearly a year after the company raised Rs 48 crore in a Series A round led by Wipro Consumer Care Ventures in April last year through a mix of primary and secondary transactions.

The Board approved the issuance of 2,853 compulsory convertible preference shares (CCPS) at an issue price of Rs 4,23,952 each to raise the aforementioned sum. Vertex Ventures led the round with an investment of Rs 75 crore, followed by International Finance Corporation (IFC), which infused Rs 31 crore. Existing investors Titan Capital Winners Fund, and Wipro Enterprises invested Rs 6 crore and Rs 5.9 crore, respectively. boAt co-founders Aman Gupta and Sameer Mehta also reinvested in the company, contributing Rs 38 lakh each. The remaining capital came from ALTrust, Force Ventures, and Swiggy co-founder Sri Harsha Majety.

Following the allotment of this round, Vertex Ventures acquired a 8.87% stake in Anveshan, while International Finance Corporation (IFC) held 3.66%.  Wipro Enterprises and Titan Capital Winners Fund raised their stakes to 3.69% and 3.25% respectively. The company’s co-founders collectively retain a 47.63% stake in the firm. While Anveshan is yet to file its FY26 numbers, its revenue surged to Rs 77.08 crore in FY25 from Rs 46.84 crore in FY24. Its losses also increased to Rs 11.88 crore from Rs 5.74 crore during the same period.

About Anveshan

Anveshan has been founded in 2020 by Aayushi Khandelwal, Akhil Kansal and Kuldeep Parewa. Anveshan provides minimally processed food products prepared in rural areas. It creates food micro-entrepreneurs in villages across India who make these food products using traditional practices. It ensures the quality of the food product for the customers, along with social and economic upliftment of the Indian farmers. The company’s current product portfolio includes A2 cow ghee, wood-pressed edible oils, raw honey, healthy sweets, beverage mixes, and a variety of other natural food products.