The Founders believe that the most successful and long-term businesses are built on fundamentally strong and resilient economics, instead of the superficial need to appear hot. This is why, even if it is counterintuitive to the high-burn route that most startups take, Anveya Living has run the business in a bootstrapped manner right from the start - focusing on business health alongside business growth.
In December 2021, it secured Rs 8 crore from Rukam Capital in its Seed funding round. Founded by Vivek Singh and Saurav Patnaik in 2018, the company aims to narrow the large gap between international beauty brands and beauty offerings in the Indian market.
The brand currently is in the process of closing its Pre-Series A funding round. As it is close to breakeven, any future investment in the company will be required for capacity addition and powering profitable growth only.
Anveya Living has been able to continue to drive growth in the last 12 months, while many others have had to rethink their economics and shift gears to cut losses reactively.
Last year, the revenues have grown to about 3.5 times the previous year. It is an even sweeter accomplishment as it was accompanied by a strong improvement in profitability too. For Anveya Living, the last year had seen great growth on the hiring front too.
Plans for 2023
It is ready to launch more game-changing categories and products for hair care. The brand is poised to witness multi-fold growth in scale and profitability this year. It is also widening its customer touchpoints this year and getting deeper and wider in the offline market. The startup will continue to invest in R&D and create categories.
Co-founder and CEO, Singh emphasises, “While things could have been easier at another time, I believe that companies born and built in tougher times are more resilient and built to win in the long run.”
Functions ranging from R&D to production and commerce, distribution and post-purchase service. While it could seem like a very large spectrum to manage, a few customer-focused brands like this one are doing it well.
Speaking about the challenges, Co-founder and CEO, Singh shares that as a bootstrapped company, we had to do the best in the category while having the least amount of resources. This included building a team from scratch, putting the physical and digital infrastructure together, arranging funds, and growing the scale and the health of the business.