Smart Appliances Startup KARBAN Pockets Funding From All in Capitals, Titan Capital, Others Smart Appliances Startup KARBAN Raises Capital From All in Capitals, Titan Capital, Others
SUMMARY
Founded in December 2021, KARBAN has raised a seed funding of INR 8.93 Cr to expand product line, strengthen the team and support innovation
The company aims to make energy efficient and sustainable appliances like its flagship product KARBAN Airzone, a 3 in 1 ceiling fan with lights and air purifier.
The company sell through its website and e-commerce platforms
KARBAN Envirotech, a startup which makes energy-efficient electronic appliances, has raised $1.07 Mn (INR 8.93 Cr) in a seed funding round co-led by All in Capitals, Titan Capital and Rainmatter.
The round also saw participation from Urban Company, JK family office and a clutch of marquee investors, including Anupam Mittal, Kunal Shah, Natasha Malpani Oswal and others.
The startup plans to deploy the fresh proceeds to fuel its growth, strengthen team, support innovation and new product development.
Founded by Karan Bansal and Tanya Goyal in 2021, KARBAN aims at making energy-efficient and sustainable airflow appliances to reduce electricity cost and save energy. The company’s distribution network includes its own website and large e-commerce platforms.
“This funding marks a significant milestone, enabling us to accelerate our research and development efforts and develop world-class consumer products that are proudly made in India,” Bansal said.
Kushal Bhagia, founder, All In Capital, said, “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. Being design-forward, the Airzone is poised to blend seamlessly into the next generation of home interiors,” he added.
This funding comes at a time when India’s air purifier market is expected to cross $1169.10 Mn by 2030, as per a report by Renub Research.
Players like Atomberg, Crompton, Bajaj and Havells compete against each other in the energy-efficient appliance space.
