New Delhi, Oct. 6 -- Beyond Appliances, a smart kitchen appliance maker, has raised Rs 110 crore ($11.4 million) in a Series B funding round led by existing investor Fireside Ventures.
Existing backer Dharana Capital and other investors also participated in the round.
The company will use the fresh capital for research and development (R&D) and to set up a new manufacturing plant, strengthening its capabilities to develop and scale its next generation of kitchen appliances.
Founded in 2024 by Eshwar K Vikas and Rakesh Patil, Beyond Appliances makes home appliances that combine technology, design and functionality. Its product portfolio includes Android chimneys, plug-and-play chimneys, and smart hobs and cooktops.
"We believe the next big shift in the appliance industry will come from building products that are not only technologically advanced but are fundamentally designed around how Indian households cook and live," said Vikas.
"We will be stepping up our R&D, investing in a new manufacturing plant, and expanding into new kitchen categories while continuing to build our products in India for Indian consumers," he added.
The company previously raised $4 million (Rs 35 crore then) in a Series A funding round in August last year, led by Fireside Ventures, with participation from Dharana Capital in the round.
The latest investment will also help the company deepen its capabilities across product engineering, embedded technology, connectivity, and advanced sensing, while giving its teams the resources to experiment, build, and bring new ideas to market faster, said Rakesh Patil, co-founder and chief technology officer of Beyond Appliances.
The company has an omnichannel presence, and has doubled its market share on marketplaces over the past year, it said.
It also operates retail outlets and experience centres across Delhi, Mumbai, Bengaluru, and Hyderabad. Over the next three years, the company plans to enter two new kitchen product categories and expand into 10 additional cities, taking its presence from four cities to 14.
Beyond Appliances aims to achieve annual recurring revenue (ARR) of Rs 500 crore over the next three years.
Published by HT Digital Content Services with permission from VC Circle.