Karban Envirotech Secures $1.07 Million in Seed Funding to Revolutionize Smart Appliance Market

KARBAN CoFounders
Preeti Bali / 2:10 pm / April 24, 2024

Karban Envirotech, a rising startup focused on manufacturing energy-efficient electronic appliances, has successfully secured $1.07 million (Rs 8.93 crore) in a seed funding round. The round was spearheaded by prominent investors – Titan Capital, Rainmatter, and All In Capital.

Investor Consortium Backs Sustainable Innovation

The funding round attracted participation from a diverse group beyond the lead investors. Urban Company, JK Family Office, and a consortium of angel investors including Kunal Shah, Anupam Mittal, Bharat Jaisinghiani, Atul Gupta, Abhishek Goyal, Sumer Sethi, Natasha Malpani Oswal, Sarang Iyengar, and Karan Jindal all contributed to the successful round.

Funds Fuel Growth, Talent Acquisition, and Product Innovation

According to a company press release, the proceeds from the funding round will be strategically directed towards propelling Karban’s growth trajectory. This includes strengthening its team, fostering innovation, and spearheading the development of new, cutting-edge products.

Bladeless Ceiling Fan: A Multi-Functional Energy Saver

Founded in December 2021 by Karan Bansal and Tanya Goyal, Karban has carved a niche in the market with its innovative bladeless ceiling fan. This unique design not only reduces energy consumption but also boasts integrated air purification and lighting functionalities. This multi-utility feature makes the Karban fan ideal for homes, offices, hotels, restaurants, and various other settings.

Targeting a Lucrative Market Segment

Karban Envirotech has set its sights on the burgeoning smart consumer appliances market in India, estimated to be worth a staggering Rs 50,000 crore. The company faces competition from established players like Havells, Crompton, and Superfan, as well as new-age entrants like Atomberg. However, Karban’s focus on energy efficiency and multi-functionality positions them to be a disruptive force in this dynamic market.

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