DSG Consumer Partners invested Rs 12 crore or 1.46 million, while Rukam Capital chipped in Rs 2.58 crore
Chennai-based Direct-to-Consumer (D2C) start-up The Indus Valley has raised $1.87 million (Rs 15.33 crore) in a Seed 2 funding round. Existing investors DSG Consumer Partners and Rukum Capital led this round, which is the company's first capital infusion in 2022.
The Indus Valley's management passed a special resolution to issue 66,690 Seed 2 compulsory convertible preference shares (CCPS) at an issue price of Rs 2,299 per share to raise Rs 15.33 crore, as per the company's regulatory filings with the Register of Companies (RoC).
DSG Consumer Partners invested Rs 12 crore or 1.46 million, while Rukam Capital chipped in Rs 2.58 crore. The rest of the sum was invested by the other investors including Indiaaxis Investments, Zend Advisors and Candle Advisors.
Founded in 2016, The Indus Valley offers toxin-free kitchenware, which is an alternative to chemically coated products. In FY 2019-20 its revenue stood at Rs 5.8 crore, which more than doubled to Rs 12.12 crore in FY21. Fintracker estimated the company's value at Rs 116 crore.