D2C Green Soul startup is preparing for the next stage of growth with funding of Rs 1.5 cr
Green Soul Ergonomics got 1.5 crore rupees from the revenue-based financier Velocity.in. This is the first round of external funding that the company has raised.
With funding from Velocity, the seeded company is now preparing for its next stage of growth.
Ravi Khushwani, Founder and CEO of Green Soul, said, “Having a comfortable seating configuration that promotes productivity is essential. Ordinary office chairs do not provide adequate comfort and are not suited to each person’s unique shape and size. Our ergonomic chairs solve this problem.
The direct-to-consumer (D2C) startup makes ergonomic chairs that are comfortable, durable and designed to help people adopt the best posture.
“In the beginning, it was difficult to sell our DIY furniture online because it is a tangible product. But positive customer reviews and word of mouth have helped us attract more customers. When people started working from home, they realized the need for a comfortable seating configuration. With this round of funding, we aim to create more inventory to meet the demand of people who are building their work from the home setup. We needed inventory capital and assessed several income-based financiers before making a choice. Velocity offered the most comprehensive offer in terms of funding amount, data privacy and speed of execution. The fact that funding goes through a single partner and that the data is secured with bank-level encryption guided our decision making. We are excited to work with them and look forward to seeing where this round of funding takes us, ”added Khushwani.
Abhiroop Medhekar, Co-Founder and CEO of Velocity.in, said, “Green Soul is a fast growing e-commerce brand with an impressive revenue trajectory, good average order value and a strong unit economy. Customers love their products which is the reason for their phenomenal growth with minimum marketing spend and maximum word of mouth promotions. The pandemic and the resulting shift to a remote working model worked in their favor, tripling revenues in FY21 alone. We are happy to work with them and see how they use this round of funding to achieve growth. “