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

Retail & Consumer Internet

DATE October, 2021

TYPE M&A

About

Greensoul

Greensoul, (established by Ravi Khushwani in 2016) is a market leader and is amongst 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 twelve months.

Upscalio

Upscalio, is one of first e-commerce aggregator platforms, founded by former McKinsey, Bain and Purplle executives. The Company acquires & partners with internet first brands selling products through their website as well as marketplaces. The platform provides capital & support to build capabilities in multi-marketplace management, digital marketing, branding, logistics, sourcing, and business operations.

Background

We are pleased to announce that our client, Greensoul Ergonomics Pvt. Ltd. (“Green Soul”), an ergonomic furniture brand has received investment from Upscalio, one of India’s’ leading roll up e-commerce platforms. This deal marks one of the largest investments in the Indian roll up e-commerce ecosystem.

Greensoul headquartered in Mumbai, is an internet first ergonomic furniture brand focused on healthy and ergonomic seating. Within a span of 4 years, Green Soul has achieved over 100cr ARR and maintained top customer reviews of 4.5+ across marketplaces.

Upscalio is one of India’s leading rollup e-commerce platforms (popularly termed as Thrasio style aggregators), created with the objective of investing in online first home furnishings & consumer internet brands. Upscalio, through a strong team & global GTM approach, helps mid sized internet first brands scale globally across platforms.

Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Promoters and the Company.

This marks VedaCorp’s 14th transaction in the consumer / internet retail space and further strengthens our new age franchise by taking to market many internet first businesses.

“Interacting and engaging with VedaCorp throughout our deal was honest, joyful and compatible. Their 24/7 support, expertise of ecosystem, and market standard knowledge helps close the deal smoothly“

Ravi Kushwani

Promoter, Greensoul

“Ravi has built an authentic online furniture brand that resonates well with working professionals, gamers & students. Partnership with Upscalio provides a large platform for Green Soul to grow its entire range of furniture offerings across the globe“

Abinandan T.S

Director, Veda Corporate Advisors