GreenFortune, a windows and doors manufacturer, has raised $4.5 million (about Rs 39 crore) in a funding round led by Germany-based fund Foundamental, with participation from Titan Capital Winners Fund and existing investor Incubate Fund Asia.
The funds will be used to support expansion, increase production, and build its tech platform PartnerGate into a full-stack solution. It also plans to invest in research and design (R&D) and technical services to create new products across different material types.
“On the product side, we will remain within the windows and doors category but expand into additional subcategories such as aluminum, steel, and pre-painted steel windows and doors, among others,” cofounder and chief executive Dilip Kumar told ET.
Founded in May 2022 by Kumar and Pratyusha Kosaraju, the Hyderabad-based startup operates with a business-to-business (B2B) model, supplying raw materials to fabricators, and a business-to-consumer (B2C) model, directly serving end customers.
“The windows and doors category is very unorganised and fragmented, with no dominant player. We are working to build our brand in this fenestration category, which primarily serves windows and doors, by offering a combination of quality and performance products at affordable prices,” Kumar said.
The brand is present in over 100 locations in India, and its materials have been used to deliver more than two million square feet of windows and doors, the firm said.
“We have customers divided into four categories. First, there are retail customers, primarily individual home builders. Second, we serve regular builders and construction companies. Third, we work with institutions such as office spaces, new factories from pharmaceutical companies, and, in some cases, temples. Lastly, we selectively take on government projects,” he added.
The startup aims to achieve Rs 250 crore annual revenue run rate (ARR) within the next two years. In the coming six to nine months, it will focus on expanding across South India before moving into other regions.
It last raised $1 million in July 2023 in a funding round led by Incubate Fund Asia.
Commenting on the investment, Rajeev Ranka, India partner, Incubate Fund Asia, said, “After B2B, we are now seeing it evolve into a B2C business with strong demand from consumers on the back of good quality, experience, and affordability. We are excited to support them in creating a unique category in home engineering materials with a blend of superior customer experience.”
The funds will be used to support expansion, increase production, and build its tech platform PartnerGate into a full-stack solution. It also plans to invest in research and design (R&D) and technical services to create new products across different material types.
“On the product side, we will remain within the windows and doors category but expand into additional subcategories such as aluminum, steel, and pre-painted steel windows and doors, among others,” cofounder and chief executive Dilip Kumar told ET.
Founded in May 2022 by Kumar and Pratyusha Kosaraju, the Hyderabad-based startup operates with a business-to-business (B2B) model, supplying raw materials to fabricators, and a business-to-consumer (B2C) model, directly serving end customers.
“The windows and doors category is very unorganised and fragmented, with no dominant player. We are working to build our brand in this fenestration category, which primarily serves windows and doors, by offering a combination of quality and performance products at affordable prices,” Kumar said.
The brand is present in over 100 locations in India, and its materials have been used to deliver more than two million square feet of windows and doors, the firm said.
“We have customers divided into four categories. First, there are retail customers, primarily individual home builders. Second, we serve regular builders and construction companies. Third, we work with institutions such as office spaces, new factories from pharmaceutical companies, and, in some cases, temples. Lastly, we selectively take on government projects,” he added.
The startup aims to achieve Rs 250 crore annual revenue run rate (ARR) within the next two years. In the coming six to nine months, it will focus on expanding across South India before moving into other regions.
It last raised $1 million in July 2023 in a funding round led by Incubate Fund Asia.
Commenting on the investment, Rajeev Ranka, India partner, Incubate Fund Asia, said, “After B2B, we are now seeing it evolve into a B2C business with strong demand from consumers on the back of good quality, experience, and affordability. We are excited to support them in creating a unique category in home engineering materials with a blend of superior customer experience.”
