Karban Envirotech, a startup that manufactures energy-efficient electronic appliances, has raised Rs 8.93 crore ($1.07 million) in a seed round led by Titan Capital, Rainmatter, and All In Capital.
Other investors who participated in the round include Urban Company, JK Family Office, and angel investors including Kunal Shah, Anupam Mittal, Bharat Jaisinghiani, Atul Gupta, Abhishek Goyal, Sumer Sethi, Natasha Malpani Oswal, Sarang Iyengar, and Karan Jindal.
The company said in a press release that KARBAN will use the funds to fuel its growth, strengthen its team, and support innovation and new product development.
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Karan Bansal, co-founder of Karban, expressed his enthusiasm about the new funding. “We feel incredibly fortunate to have experienced partners who are supportive and 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,” said Bansal.
Founded in December 2021 by Karan Bansal and Tanya Goyal, Karban has designed and manufactured a bladeless ceiling fan with an in-built air purifier and lights. Its unique design helps reduce electricity consumption and provides multi-utility air flow, air purification, and lighting for homes, offices, hotels, and restaurants, among others.
The smart consumer appliances market targeted by Karban in India is pegged at Rs 50,000 crore. It competes with new-age companies like Atomberg and established firms such as Havells, Crompton, and Superfan.
