House of Brands Evenflow has secured an unspecified amount from serial entrepreneur Shail Patel and existing investors in a bridge round. This is part of its ongoing $5 million Series A round, the company announced on Tuesday, October 15.
Evenflow set to expand 7 acquired brands globally
This new investment will help expand operations and grow all seven acquired brands — Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware. Evenflow aims to take these brands global by entering more countries. In addition, a bridge round is temporary funding to support a company until the next big round.
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According to Economic Times, Utsav Agarwal, chief executive officer (CEO), of Evenflow, mentioned, “Currently, we view ourselves more as a mutual fund than a high-growth stock. Our focus is on low risk and stable returns, rather than high risk and volatile returns. This approach is in line with the preferences of our current investors and Shail Patel, which is why they have shown confidence through their investment. We are excited to utilize this capital for our people and for growth, and ultimately prepare for an IPO by the end of 2027.”
Evenflow sees 350% growth on e-commerce platforms
For now, the brands maintained their presence in India and the US, and they’ve seen a strong 350% growth by selling on e-commerce platforms. Evenflow brands are available on platforms like Amazon, Flipkart, CRED, Zepto, Instamart, and more.
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Furthermore, Shail Patel, Director at Adjavis Venture Limited, released a statement regarding the funding, saying, “India is going through a massive shift in the adoption of challenger brands across categories. It presents a unique opportunity over the next decade to build everyday brands that turn into household names. Evenflow is capitalising on this very opportunity with positive unit economics, and hence I am excited to back them.”
Established in 2021, Evenflow has granted investments from 100unicorns, Village Global, Equanimity, Kunal Shah, Vijay Shekhar Sharma, Emil Michael, Sandeep Varaganti, Srinath Rajam, and more across several rounds. They aim to grow revenue by 10x and profits by six times by 2027 through building a strong team, scaling the business, and keeping a healthy profit margin.
