# Greenway Appliances

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/greenway-appliances

- Industry: Consumer Products
- Headquarters: Mumbai, India
- Website: www.greenwayappliances.com
- Total disclosed funding: $2.5M
- Latest round: Series A (Feb 10, 2016)
- Investors on record: 1

## About

Greenway Appliances specializes in sustainable cooking solutions, designing and manufacturing biomass cookstoves tailored for rural households. Their innovative products enhance energy efficiency while addressing health and environmental challenges.Founded in 2011 in Mumbai, India, Greenway Appliances creates high-efficiency biomass cookstoves. The company was established by Ankit Mathur and Neha Juneja, focusing on improving cooking methods in rural areas. In February 2016, Greenway Appliances raised USD 2.5 mn in Series A funding from Acumen and individual investors, completing a total funding amount of USD 2.5 mn. The company has engaged in one deal to date, with its headquarters located in Mumbai.Greenway Appliances designs, manufactures, and deploys high-efficiency biomass cookstoves that provide sustainable cooking solutions for rural households. Their key products—the Jumbo Stove, Smart Stove, and Yula Stove—are compatible with various solid biomass fuels and significantly enhance cooking efficiency, reducing household air pollution. The Jumbo and Smart Stoves can boil up to 20 liters of water, while the Yula Stove has a capacity of up to 40 liters, catering to families in the Global South, including India and other Asian and African countries.In the most recent financial year of 2023, Greenway Appliances reported a revenue of USD 11,311,729 and an EBITDA of USD 2,608,339. The company generates revenue primarily through direct sales of cookstoves to consumers and partnerships with organizations facilitating distribution in rural markets. Their pricing strategy reflects a commitment to affordability for rural households, while their products support clean cooking practices.Looking ahead, Greenway Appliances plans to enhance its product offerings by launching new cookstove models aimed at further reducing emissions and improving efficiency. The company aims to expand to additional markets in Africa and Southeast Asia by 2025, leveraging its recent Series A funding of USD 2.5 mn from February 2016 to support these initiatives, including product development and market entry strategies.

## Funding rounds

- Series A, Feb 10, 2016, $2.5M — Acumen

## Investors

- Acumen (https://capitalatlas.ai/funds/acumen) — Series A