Hyderabad-based building materials startup aims for INR 250 Cr ARR, national expansion, and full-stack tech platform to transform India’s fenestration market
In a significant move underscoring the growing investor interest in India’s building materials and home improvement sector, GreenFortune, a fast-growing windows and doors brand, has raised USD 4.5 million (~INR 38 crore) in a Pre-Series A round led by Foundamental, a global early-stage construction tech investor. The round also saw participation from Titan Capital Winners Fund and existing investor Incubate Fund Asia, marking a continued show of faith in the startup’s vision and execution.
Scaling Ambitions with Capital Backing
Founded in May 2022 by former BCG partners Dilip Kumar and Pratyusha Kosaraju, GreenFortune was born out of a clear market gap: middle-income Indian consumers lacked access to high-quality, climate-suited, and affordable fenestration solutions. Since its inception, the company has delivered over 2 million square feet of uPVC windows and doors and now operates across 100+ locations in India, with products manufactured in India, Germany, and Japan.
This fresh round of capital will be channeled towards tripling R&D and technical capabilities, expanding production volume by 6x, and evolving its proprietary tech platform PartnerGate into a full-stack customer service and operations solution. PartnerGate aims to improve fabricator onboarding, streamline project execution, and enhance end-customer satisfaction—areas that have traditionally plagued the industry.
Path to INR 250 Cr ARR and a National Footprint
Speaking about the funding, Dilip Kumar, Co-founder & CEO, emphasized GreenFortune’s long-term vision:
“This round reflects the unwavering trust our investors place in our mission to empower India’s middle-income segment with world-class products tailored to local needs. With this capital, we aim to scale operations rapidly, strengthen our network of fabricators, and target INR 250 crore in annual recurring revenue (ARR) over the next two years.”
Investors Back Execution and Market Strategy
Shubhankar Bhattacharya, Co-founder & General Partner at Foundamental, noted:
“GreenFortune has executed brilliantly on the key pillars of a modern building materials brand—scaling supply, enhancing service quality, and maintaining strong margins. We’re excited to support their journey to become India’s premier fenestration brand.”
Shiv Kapoor, Vice President at Titan Capital Winners Fund, added:
“We’ve seen GreenFortune transition from a promising early-stage venture to a company ready to take the leap toward mass consumer brand recognition. Their customer-centric model and supply chain efficiency stand out.”
Rajeev Ranka, India Partner at Incubate Fund Asia, reflected on the journey so far:
“From its B2B roots, GreenFortune is now firmly building its B2C engine, backed by product quality, service excellence, and affordability. We’re thrilled to back them again as they create a new category in engineered home materials.”
Addressing Structural Gaps in a USD 1 Trillion Market
India’s real estate and construction sector is projected to reach USD 1 trillion (~INR 85.61 Lakh Crore) by 2030, with façades and joineries alone expected to contribute USD 15 billion (~INR 1.28 Lakh Crore) nationally. Despite this explosive growth, the sector faces acute pain points: poor service orientation, cost inefficiencies, inconsistent product quality, and lack of transparency.
GreenFortune aims to resolve these challenges by bringing in a blend of technology, localized R&D, and customer-centric operations—essentially positioning itself as a next-gen, vertically integrated fenestration brand.
Prior Fundraising and Road Ahead
This Pre-Series A round builds on GreenFortune’s USD 1 million (~INR 8.56 crore) seed funding in July 2023, also led by Incubate Fund Asia. The latest capital infusion reaffirms investor confidence as the company transitions from foundation-building to aggressive scaling.
With plans to expand nationally, strengthen digital and physical distribution, and launch innovative material lines tailored for Indian weather, GreenFortune is well-positioned to disrupt an industry ripe for modernization.
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