Hyderabad-based fenestration startup GreenFortune has raised $4.5 million (around Rs 39 crore) in a new funding round. This round was led by Germany-based investment firm Foundamental, with additional support from Titan Capital Winners Fund, Incubate Fund Asia, and other existing investors. The startup plans to use the funds to expand its reach across India, increase its production capacity sixfold, and enhance its proprietary tech platform called PartnerGate. The aim is to transform PartnerGate into a full-stack solution to improve customer experience and service efficiency.

This latest round of funding follows GreenFortune’s earlier seed round in July 2023, where it raised $1 million, also led by Incubate Fund Asia.

Expanding Product Range

Founded in May 2022 by Dilip Kumar and Pratyusha Kosaraju, GreenFortune aims to modernize India’s fragmented windows and doors market by providing high-quality, affordable, and climate-friendly fenestration solutions. Fenestration refers to windows, doors, and other openings in a building. GreenFortune’s mission is to address the growing demand for reliable and efficient products in this space.

Currently, the startup operates in over 100 locations across India and has supplied materials for more than two million square feet of windows and doors. With the fresh capital, GreenFortune plans to broaden its product offerings. It intends to move beyond its current range and introduce aluminium, steel, and pre-painted steel windows and doors. This expansion will allow the company to cater to a wider range of customer preferences and market needs.

The company will also invest in research and development (R&D) to create innovative products that meet the diverse requirements of both residential and commercial customers. This focus on R&D and technical services is expected to strengthen GreenFortune’s position in the fenestration market.

Growing Market Opportunity

India’s real estate and construction sector is projected to grow significantly, reaching a market size of $1 trillion by 2030. Within this space, facades and joineries represent a $15 billion opportunity, as quality control, service inefficiencies, and high costs remain challenges for consumers and businesses alike.

GreenFortune aims to disrupt this segment by focusing on innovation, transparency, and a customer-first approach. The company’s leadership believes that offering affordable, high-quality products with efficient service will allow GreenFortune to address gaps in the market and gain a competitive edge.

The latest funding round reflects growing investor confidence in GreenFortune’s vision and strategy. Dilip Kumar, co-founder and CEO, expressed gratitude for the support, stating that the investment demonstrates trust in the company’s mission to provide affordable, high-quality fenestration solutions to middle-income households across India.

Rajeev Ranka, India partner at Incubate Fund Asia, emphasized that GreenFortune is transitioning from being a B2B supplier to becoming a consumer-driven brand. He noted that the company is seeing strong demand due to its focus on quality, affordability, and customer experience.

Shubhankar Bhattacharya, co-founder and general partner at Foundamental, highlighted the company’s achievements in scaling production, improving service quality, and strengthening customer access. He praised the GreenFortune team for their dedication to building a robust supply chain and delivering excellent value to customers.

Future Plans and Growth Targets

Shiv Kapoor, vice president at Titan Capital Winners Fund, also expressed enthusiasm for GreenFortune’s future, noting that the company is well-positioned to scale its operations and achieve further growth.

GreenFortune aims to achieve Rs 250 crore in annual recurring revenue (ARR) within the next two years. Initially, the company plans to strengthen its presence in South India before expanding to other regions across the country. By scaling its operations and enhancing its product offerings, GreenFortune seeks to become India’s leading fenestration brand and a key player in the growing construction and real estate market.