Hyderabad-based fenestration startup GreenFortune has raised $4.5 million (roughly Rs 39 crore) in a funding spherical led by Germany-based Foundamental, with participation from Titan Capital Winners Fund, Incubate Fund Asia, and different current buyers.
The contemporary funds will likely be used to increase operations throughout India, increase manufacturing sixfold, and additional develop its proprietary tech platform, PartnerGate, right into a complete full-stack answer to reinforce buyer expertise.
Beforehand, GreenFortune secured $1 million in seed funding in July 2023, led by Incubate Fund Asia.
Based in Might 2022 by Dilip Kumar and Pratyusha Kosaraju, GreenFortune is modernizing India’s fragmented home windows and doorways trade by offering high-quality, climate-adaptive, and reasonably priced fenestration options.
Presently working in 100+ places, the startup has provided supplies for over 2 million sq. ft of home windows and doorways.
Co-founder and CEO Dilip Kumar acknowledged, “This funding reaffirms our buyers’ belief in our imaginative and prescient to supply high quality options to middle-income households at reasonably priced costs.”
GreenFortune plans to diversify its product vary past conventional home windows and doorways, incorporating aluminium, metal, and pre-painted metal options whereas investing in R&D and technical providers to develop new choices.
Shubhankar Bhattacharya, co-founder and basic companion at Foundamental, highlighted the startup’s concentrate on scaling manufacturing, bettering service high quality, and enhancing buyer entry.
“GreenFortune is executing brilliantly in its mission to change into India’s main fenestration model. We’re proud to steer this Pre-Collection A spherical,” he mentioned.
Titan Capital Winners Fund VP Shiv Kapoor praised the staff’s robust provide chain and dedication to high quality at aggressive costs, stating that GreenFortune is now prepared for its subsequent section of progress.
The corporate goals to realize Rs 250 crore ARR inside two years, increasing first throughout South India earlier than scaling nationwide.
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