Retail & Consumer Internet
VedaCorp advises Candes, a leading Home & Kitchen Appliances brand with INR 200cr ARR on its investment by Globalbees
About
Candes
Candes offers a range of home & kitchen appliances & has positioned itself as an affordable brand with quality products. With products highly rated on marketplaces, its in-house manufacturing facility & pan India distribution, it has quickly scaled to become one of India’s largest digitally native brands in the consumer durable segments with an INR 2,000 Mn ARR.
GlobalBees
GlobalBees, acquires and partners with digitally native brands across categories like home & kitchen, jewellery, beauty & personal care, food & nutrition, and sports and lifestyle. GlobalBees is backed by marquee investors including SoftBank, Steadview, Lightspeed, Premji Invest & Chiratae Ventures and is one of India’s largest e-commerce aggregators.
Background
We are pleased to announce that our client, Candes Technology Pvt Ltd (“Candes”) has received investment from GlobalBees, one of India’s largest e-commerce aggregators, through a combination of primary & secondary investment.
Candes is a rapidly growing internet first home & kitchen appliances brand. Headed by Vipin & Sandeep Aggarwal, who have a combined experience of over 3 decades in the home & kitchen segment, Candes manufactures & sells fans, geysers, stabilizers, washing Machines, LED TV’s & kitchen appliances under the ‘Candes’ brand name.
“VedaCorp is a trusted partner with deep knowledge. The team ensures fairness and transparency for all stakeholders resulting in successful deal closure within strict timelines. Keep it up.”
Vipin Aggarwal
Founder & CEO, Candes
“Partnership with Global Bees provides the right platform for Candes to scale the brand in domestic and international markets. This partnership will not only enhance organic growth but also provide thrust to pursue acquisition opportunities.”
T S Abinandan, Director
Veda Corporate Advisors