Founded by IIT Guwahati Alumni, D2C Food-Tech Startup Anveshan Grows 65% to Rs 77.5 Crore in FY25; Loss Widens to Rs 11.8 Crore
In an impressive display of growth, Anveshan, a direct-to-consumer (D2C) food-tech startup founded by alumni of the Indian Institute of Technology (IIT) Guwahati, reported a remarkable 65% increase in revenue for the fiscal year 2025 (FY25). The company’s revenue surged to Rs 77.5 crore, up from Rs 47 crore in FY24. However, this growth came with challenges, as the company’s net loss widened to Rs 11.8 crore during the same period.
Financial Performance Overview
According to financial statements sourced from the Registrar of Companies (RoC), Anveshan generated Rs 77 crore from its core operations in FY25, compared to Rs 46.9 crore in FY24. The remaining income for both fiscal years came from other sources.
The cost of goods sold (COGS) increased significantly, rising by 54% year-on-year to Rs 44.5 crore in FY25, up from Rs 28.8 crore in FY24. Employee benefit expenses also saw a notable increase, standing at Rs 6.6 crore in FY25, which is a 38% rise from Rs 4.8 crore in FY24. Additionally, finance costs for FY25 amounted to Rs 62 lakh.
Marketing and Overall Expenses
One of the most significant factors contributing to the company’s widening loss was the dramatic increase in marketing expenses, which surged 2.8 times to Rs 20.3 crore in FY25, compared to Rs 7.2 crore in FY24. Overall, Anveshan’s total expenses rose by 70%, reaching Rs 89.5 crore in FY25, up from Rs 52.8 crore in FY24. This led to a net loss that more than doubled, increasing from Rs 5.7 crore in FY24 to Rs 11.8 crore in FY25.
On average, the company spent Rs 1.16 to generate every rupee of revenue in FY25, slightly higher than the Rs 1.13 spent in FY24.
About Anveshan
Founded in January 2020, Anveshan Farm Technologies Private Limited is based in Gurugram and focuses on minimally processed, traditional Indian food products sourced directly from farmers. The founders, Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, leverage advanced technologies such as spectroscopy, IoT, and blockchain to ensure product traceability and quality.
Supporting Farmers
Anveshan collaborates with over 7,000 farmers across more than 19 villages in India, helping them secure better prices by adding value to their produce at the source. This initiative not only benefits the farmers but also enhances the quality of products available to consumers.
Product Portfolio
The company offers a diverse range of over 20 products, including:
- A2 desi cow ghee
- Wood-pressed oils (coconut, groundnut, black sesame)
- Raw honey
- Seeds sourced from native regions
- Stone-ground spices
- Minimally processed snacks and sweets free from additives
Empowering Micro-Entrepreneurs
In addition to its product offerings, Anveshan empowers food micro-entrepreneurs in villages across India to produce these products using traditional methods. This approach not only ensures high product quality for consumers but also supports the social and economic upliftment of Indian farmers.
Sales Channels
Anveshan sells its products through its official website as well as online marketplaces such as Amazon, Blinkit, and Zepto, making it accessible to a wider audience.
Funding and Investment
On the funding front, Anveshan raised Rs 48 crore (approximately $6 million) in April 2025, led by Wipro Consumer Care Ventures, with participation from DSG Consumer Partners and Titan Capital Winners Fund. Prior to this, the company had secured $2 million in a Pre-Series A round in September 2022, also led by DSG Consumer Partners. As of March 2026, Anveshan has raised a total of approximately $10.9 million (around Rs 91.4 crore) in funding.
Conclusion
Despite the challenges of increasing losses, Anveshan’s significant revenue growth and innovative approach to sourcing and selling traditional Indian food products demonstrate its potential in the competitive food-tech industry. The company’s commitment to supporting farmers and empowering micro-entrepreneurs highlights its dedication to social impact alongside business growth.
Note: The financial figures and details mentioned in this article are based on the latest available data and may be subject to change as new information becomes available.
