D2C startup Green Soul has announced that it has raised Rs 1.5 crore in revenue-based financing from Velocity.
Ravi Khushwani, Founder and CEO, Green Soul, stated, “It is vital to have a seating setup that is comfortable and conducive to productivity. Regular office chairs do not provide adequate comfort and are not tailored to the unique shape and size of each person. Our ergonomic chairs solve this problem.”
Ravi further informed “In the beginning, it was difficult to sell our DIY furniture online since it is a tangible product. But positive customer reviews and word-of-mouth helped us get more customers on board. As people started working from home, they realised the need for a comfortable seating setup. With this round of financing, we aim to build more inventory to cater to demand from people who are building their work from home setup.”
Abhiroop Medhekar, Co-founder and CEO of Velocity.in, added, “Green Soul is a fast-growing ecommerce brand with an impressive revenue trajectory, good average order value, and strong unit economics. Customers love their products, which explains their phenomenal growth with minimal marketing spends and maximum word-of-mouth promotions. The pandemic and consequent shift to a remote-working model worked in their favour, leading to a 3X jump in revenue in FY21. We are happy to collaborate with them and see how they utilise this round of financing to achieve growth.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.