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Indic Wisdom Raises Rs 4 Crores In Pre-Series A Round Led By Inflection Point Ventures

The agri-produce startup will use the funds to boost visibility, expand distribution, and enhance production capacity

Indic Wisdom Raises Rs 4 Crores In Pre-Series A Round Led By Inflection Point Ventures
Indic Wisdom's co-founders Prajakta Khare and Kaustubh Khare

Outlook Start-Up Desk

POSTED ON February 23, 2024 2:25 PM

Indic Wisdom, an agri-produce startup, raised Rs 4 crores in a pre-series A Round led by Inflection Point Ventures, which also saw the participation of Launch Capital and Bifco Finance. HNI like Mahendra Sankhe also participated in the round. 

The startup will utilise funds to enhance the brand’s visibility, expand its distribution network, and build production capacity toward increasing market presence and operational efficiency.

Indic Wisdom traces its inspiration to India’s egalitarian culinary traditions. Growing up learning that food should always be natural and always shared with everyone, Kaustubh Khare and Prajakta Khare founded the brand to contemporize that civilizational wisdom and produce goodness at scale, with a focus on wood-pressed oils.

Kaustubh, with 15 years in SAP ERP specializing in Digital Supply Chain Management, serves as Founder and Director. Prajakta, Co-Founder and Director, has 14 years of expertise in SAP ERP, focusing on CRM, Campaign Management, and Digital Distribution Management. Their operational dexterity, corporate experience, and dedication drive Indic Wisdom’s tireless endeavour to deliver nurture’s peerless purity and India’s cultural mores in each drop.

Rahul Wagh, managing director, of Inflection Point Ventures, says, “Conventional oils encounter issues concerning their quality, safety, nutrient content, and environmental impact. Choosing wood-pressed oils gives a healthier and more sustainable choice for both manufacturers and consumers. With the global wood-pressed oil market expected to grow from $9.63 billion in 2022 to $18.61 billion by 2030, at a compound annual growth rate (CAGR) of 8.57%, there's a clear shift towards healthier alternatives. This, with increasing awareness about the health concerns related to conventional oils, brings us here, to the right path that our ancestors paved.”

Inflection Point Ventures is an angel investing platform with over 12,000 CXOs, HNIs, and professionals to together invest in startups. It supports new-age entrepreneurs by providing them with monetary and experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF, Physis Capital, to invest in pre-Series A to Series B growth-stage start-ups.

Indic Wisdom’s unique selling points (USPs) include in-house manufacturing, rigorous quality control and an extensive range of oils and its presence across multiple channels, which further contribute to its distinct position in the market. Offering price parity in the category, it claims to remain PAT positive for the past four years, reflecting financial stability. 

Currently, they operate at a scale where they extract 70 thousand litres of oil per month, highlighting their significant production capacity.

Prajakta Khare, founder and director of Indic Wisdom, says, “At Indic Wisdom, our goal is to take India's timeless tradition of prasad – food that is pure, sustainable, and meant for everyone - to every corner of the world. We are doing this by taking our ancient wisdom and food production practices and infusing them with modern production best practices and quality standards. Bootstrapped, we have made this ethos come to life with our Wood Pressed Oil extraction plant.” 

She added that this plant is a zero-waste manufacturing facility that has generated employment in the tribal belt of Palghar and has achieved a monthly GMV of Rs 2.5 crore.

As per the latest industry data, the cold-pressed oil market in India is projected to reach approximately Rs 40,000 crores by the year 2030. On a global scale, the category is expected to reach $30 billion by the year 2028.  

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