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October 27, 2021 Live Mint

Veda advises Greensoul, an internet first furniture brand with 100cr+ ARR, on its investment by Upscalio


Mumbai :  UpScalio, a roll-up e-commerce company that invests in and grows online-first brands, has invested in Green Soul, an ergonomic furniture brand, the company said in a statement on Tuesday.

This investment marks UpScalio’s entry into the fast-growing furniture segment. Established by Ravi Khushwani in 2016, Green Soul is among Amazon and Flipkart’s highly rated and most-reviewed brands. The brand boasts of strong financial health and exceptional growth. It has outpaced the growth of its category with over 100,000 chairs sold in the last 12 months.

UpScalio has created a strategic road map, aiming to continue the brand’s march towards becoming India’s largest Ergonomic Furniture brand. UpScalio plans to further the brand’s dominance in the Gaming Chairs vertical, while extending the brand’s leadership in the office chairs category.

Gautam Kshatriya, co-founder and CEO, UpScalio, said, “At UpScalio, we are committed to investing in high-growth, digital-first brands and profitably scaling them 5-10x through capital assistance and operational excellence. As a category leader, Green Soul is an incredible addition to the UpScalio portfolio. We are highly impressed with Ravi’s depth of knowledge of this category and his desire to provide the best customer experience. Together, we’re perfectly poised to bring the ergonomic revolution in India.”

Ravi Khushwani, Founder, Green Soul, said, “It was only in this pandemic that we have realized the value of health in our way of life. Green Soul has worked hard to provide customers with furniture that is ergonomically designed, and our mission is to bring the latest innovations to every household in India . It’s time to pass on this baton of exponential growth to a word-class team with a portfolio of high-quality e-commerce experts. I am thoroughly impressed with UpScalio’s growth strategy & their operational depth and I am looking forward to the new heights that Green Soul will achieve with them.”

UpScalio invests in e-commerce businesses that sell on Amazon, Flipkart, other marketplaces, and their own

websites. Then, it shoulders the responsibility to grow the business 5-10X over the next few years. UpScalio unlocks wealth for original founders by providing a full exit over time.