India's GreenFortune raises $4.5 million led by Germany-based Foundamental, others

Hyderabad-based fenestration startup GreenFortune has raised $4.5 million (approximately Rs 39 crore) in a funding round led by Germany-based Foundamental, with participation from Titan Capital Winners Fund, Incubate Fund Asia, and other existing investors.

The startup will use the raised capital to fuel national expansion, a sixfold increase in production volume, and the development of its proprietary tech platform, PartnerGate, into a full-stack solution to enhance customer service.

Prior to this round, it raised $1 million in a seed funding round in July 2023, also led by Incubate Fund Asia.

Scaling operations and expanding product offerings

Founded in May 2022 by Dilip Kumar and Pratyusha Kosaraju, GreenFortune aims to modernize India's fragmented windows and doors market by offering high-quality, climate-adaptive, and affordable fenestration solutions.

The startup currently operates in over 100 locations and has supplied materials for more than two million square feet of windows and doors.

"GreenFortune's latest round of funding reflects the unwavering trust our investors place in our vision to empower the middle-income section of the nation with quality solutions tailored to their needs in a pocket-friendly manner," said Dilip Kumar, co-founder and CEO of GreenFortune. 

It also plans to broaden its product range, moving beyond existing window and door categories to aluminium, steel, and pre-painted steel windows and doors, among others. Additionally, GreenFortune will invest in R&D and technical services to create new products that cater to diverse customer needs.

Addressing a $15 billion market opportunity

India's real estate and construction sector, projected to reach $1 trillion by 2030, presents a $15 billion opportunity in facades and joineries, where quality control, service inefficiencies, and high costs remain persistent challenges.

GreenFortune seeks to disrupt this space with its focus on innovation, transparency, and a customer-first approach.

"We are thrilled to continue our partnership as repeat investors. GreenFortune is shifting from a B2B supplier to a consumer-driven brand, meeting strong demand based on quality, experience, and affordability," said Rajeev Ranka, India partner at Incubate Fund Asia.

Shubhankar Bhattacharya, co-founder and general partner at Foundamental, highlighted GreenFortune’s focus on scaling manufacturing, improving service quality, and strengthening customer access.

"GreenFortune is executing brilliantly in its quest to become India's premier fenestration brand. We are proud to lead this Pre-Series A round and partner with Dilip and Pratyusha on this journey," he said.

"We've seen this team laser-focused on building a robust supply chain that delivers great quality at affordable prices. They are now ready to scale to the next level," said Shiv Kapoor, vice president at Titan Capital Winners Fund.

GreenFortune aims to achieve Rs 250 crore ARR within two years and expand first across South India before scaling to other regions.