About Candes
Candes is a company based in Delhi (India) founded in 2010 by Sandeep Aggarwal and Vipin Aggarwal.. Candes has raised $29.39 million across 3 funding rounds from investors including GlobalBees, Ruchirans Jaipuria and Anuraag Jaipuria. The company has 84 employees as of March 22, 2024. Candes offers products and services including Smart LED TV, Ceiling Fan, Induction Cooktop, Washing Machine, and Kitchen Chimney. Candes operates in a competitive market with competitors including Atomberg, Lifelong Online, Nuuk and Amplesta, among others.
- Headquarter Delhi, India
- Employees 84 as on 22 Mar, 2024
- Founders Sandeep Aggarwal, Vipin Aggarwal
- Stage Minicorn
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Sectors
RetailConsumer
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Candes Technology Private Limited
- Date of Incorporation 25 Jan, 2021
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$10.79 M (USD)4.45as on Mar 31, 2023
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Net Profit
$-1.77 M (USD)-786.14as on Mar 31, 2023
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EBITDA
$-1.39 M (USD)-2603.04as on Mar 31, 2023
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Total Equity Funding
$29.39 M (USD)
in 3 rounds
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Latest Funding Round
$26.39 M (USD), Series A
Mar 01, 2022
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Investors
GlobalBees
& 5 more
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Employee Count
84
as on Mar 22, 2024
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Products & Services of Candes
Candes offers a comprehensive portfolio of products and services, including Smart LED TV, Ceiling Fan, Induction Cooktop, Washing Machine, and Kitchen Chimney. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Television with smart features for home entertainment and streaming.
High-speed fan designed for efficient room cooling and decoration.
Energy-efficient cooktop for fast and safe meal preparation.
Machine for automated laundry cleaning and fabric care.
Ventilation device to remove smoke and odors during cooking.
Funding Insights of Candes
Candes has successfully raised a total of $29.39M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $26.39 million completed in March 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $26.4M
- First Round First Round
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2022 | Amount | Series A - Candes | Valuation | GlobalBees |
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| Jun, 2021 | Amount | Seed - Candes | Valuation | Ruchirans Jaipuria , Anuraag Jaipuria | |
| Jun, 2016 | Amount | Seed - Candes | Valuation | Dheeraj Jain |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Candes
Candes has secured backing from 6 investors, including institutional and angel investors. Prominent investors backing the company include GlobalBees, Ruchirans Jaipuria and Anuraag Jaipuria. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Direct-to-consumer brands are built and scaled through a technology platform.
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Founded Year | Domain | Location | |
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Beverages are produced and distributed by Jai Beverages in India.
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Founded Year | Domain | Location | |
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RJ
Ruchirans Jaipuria |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Candes
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Candes
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Candes Comparisons
Competitors of Candes
Candes operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Atomberg, Lifelong Online, Nuuk and Amplesta, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Energy-efficient ceiling fans and smart home appliances are provided.
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| domain | founded_year | HQ Location |
Home appliances and personal care products are manufactured and sold.
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| domain | founded_year | HQ Location |
Manufacturer of design-focused home appliances
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| domain | founded_year | HQ Location |
Online platform selling home appliances like irons, coolers, and kettles directly.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Candes
Frequently Asked Questions about Candes
When was Candes founded?
Candes was founded in 2010 and raised its 1st funding round 6 years after it was founded.
Where is Candes located?
Candes is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Is Candes a funded company?
Candes is a funded company, having raised a total of $29.39M across 3 funding rounds to date.
How many employees does Candes have?
As of Mar 22, 2024, the latest employee count at Candes is 84.
What is the annual revenue of Candes?
Annual revenue of Candes is $10.79M as on Mar 31, 2023.
What does Candes do?
Candes was founded in 2010 in Delhi, India, and operates as an internet-first brand in the home appliances sector. A range of products is provided, including fans, water heaters, stabilizers, televisions, mixers, irons, gas stoves, exhaust fans, and additional items. Integration with a mobile application is featured across all products, along with compatibility for voice assistants such as Alexa and Google Assistant.
Who are the top competitors of Candes?
Candes's top competitors include Atomberg, Lifelong Online and Nuuk.
What products or services does Candes offer?
Candes offers Smart LED TV, Ceiling Fan, Induction Cooktop, Washing Machine, and Kitchen Chimney.
Who are Candes's investors?
Candes has 6 investors. Key investors include GlobalBees, Ruchirans Jaipuria, Anuraag Jaipuria, Nitin Passi, and Dheeraj Jain.
What is Candes's valuation?
The valuation of Candes is $20.21M as of Jun 2016.
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