Spiko raises $90m in Series B backed by Index Ventures and Speedinvest

Beyond Appliances, a kitchen appliances brand based in Bengaluru, has secured Rs 110 crore in a Series B funding round led by Fireside Ventures. The investment, which also saw participation from Dharana Capital and other investors, will be utilized for research and development, expanding manufacturing capacity, venturing into new product categories, and solidifying the company's presence in existing product lines.

Co-founder and CEO Eshwar K Vikas expressed optimism, stating that the appliance industry's future lies in creating technologically advanced products specifically designed for Indian households' cooking and lifestyle. Founded in 2024 by Eshwar K Vikas and Rakesh Patil, Beyond Appliances employs an omnichannel approach, with retail stores in Delhi, Mumbai, Bengaluru, and Hyderabad, and a manufacturing plant in Bengaluru.

The product lineup includes Android chimneys, Plug-N-Play chimneys, smart hobs, and cooktops. The company aims to expand its retail footprint to 10 additional cities within the next three years. Furthermore, 15% of Beyond Appliances' revenue is derived from customer referrals. Co-founder and CTO Rakesh Patil highlighted that the company's R&D teams have collaborated closely with consumers over the past two years to address everyday challenges in Indian kitchens and develop innovative products.

Shuchi Pandya, Principal at Fireside Ventures, praised Beyond Appliances for its substantial fundamentals, encompassing technology-driven products, an expanding omnichannel presence, robust in-house R&D, and manufacturing capabilities, all of which have contributed to the company's distinct consumer brand.