DBT Bureau
Bengaluru, 24 April
Karban Envirotech, a startup that manufactures energy-efficient electronic appliances, has raised Rs 8.93 crore of funding from a seed round led by Titan Capital, Rainmatter, and All In Capital.
Other investors who participated in the seed round include Urban Company, JK Family Office. Among individual investors, who funded this round, comprised Kunal Shah, Anupam Mittal (Shark Tank India), Bharat Jaisinghiani, Atul Gupta, Abhishek Goyal, Sumer Sethi, Natasha Malpani Oswal, Sarang Iyengar and Karan Jindal, the company said in a release.
KARBAN, which builds high-end consumer appliances, will use these funds to drive its future growth, strengthen its team, and support innovation and new product development, the company said.
“We feel incredibly fortunate to have experienced partners who are not only supportive but also share our vision wholeheartedly. This funding marks a significant milestone, enabling us to accelerate our R&D efforts and develop world-class consumer products that are proudly Made in India,” KaranBansal, Founder of Karban said.
Karban was founded in December 2021 by Karan Bansal and Tanya Goyal. The company designs and manufactures a state-of-the-art bladeless ceiling fan with in-built air purifier and lights. The startup has leveraged Computational Fluid Dynamics (CFD) to enhance the efficiency and effectiveness of the airflow devices.
Bipin Shah, Partner Titan Capital said, “We are thrilled to announce our investment in Karban which is a true example of supporting ‘Make in India’. The team has come up with an innovative all in one product for ceiling fan, air purifier and chandelier with in-house R&D, design and manufacturing. The products are not only energy efficient but also sustainable and aesthetically pleasing. Karban’s commitment to creating quality climate control solutions is commendable, and Titan is excited to support this journey. Together, we look forward to making a significant impact in the industry.”
The smart consumer appliances market targeted by Karban in India is pegged at Rs 50,000 crore, according to the company.
