Money raised in Pre-Series A Round led by Inflection Point Ventures, Funds will be used to boost visibility, expand distribution, and enhance production capacity
FinTech BizNews Service
Mumbai, February 22, 2024: Indic Wisdom, an agri-produce startup raised ₹4 crores in Pre-Series A Round led by Inflection Point Ventures. Mahendra Sankhe, Launch Capital, Bifco Finance, and other HNIs also participated in the round. The funds will be utilized to enhance the brand’s visibility, expand its distribution network, and build production capacity toward increasing market presence and operational efficiency.
Indic Wisdom Pvt. Limited 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 endeavor to deliver nurture’s peerless purity and India’s cultural mores in each drop.
Rahul Wagh, Managing Director, 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 USD 9.63 billion in 2022 to USD 18.61 billion by 2030, at a compound annual growth rate (CAGR) of 8.57%, there's a clear shift towards the 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.”
Indic Wisdom stands out with its strengths and unique selling points (USPs) such as in-house manufacturing and rigorous quality control, to ensure the finest products. Offering price parity in the category, it remains PAT positive for the past four years, reflecting financial stability. The brand's extensive range of oils and its presence across multiple channels further contribute to its distinct position in the market.
Currently, they operate at a scale where they extract 70 thousand liters of oil per month, highlighting their significant production capacity.
Prajakta Khare, Founder & Director, 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. In an era when India is rising in stature in the world and our manufacturing is being looked at with great promise, we believe we can be the embodiment of India’s best traditions, promoting purity and accessibility of food, sustainable growth for ecosystems, and responsible conduct in society.
Proudly bootstrapped, we have made this ethos come to life with our Wood Pressed Oil extraction plant. Not only is it India’s largest, but it is also a ZERO WASTE manufacturing facility that has generated employment in the tribal belt of Palghar and achieve impressive monthly GMV of ₹2.5 crores.
As per the latest industry data, the Cold Pressed Oil market in India is projected to reach approximately ₹40,000 crores by the year 2030. On a global scale, the category is expected to reach $30 billion by the year 2028. These figures highlight the substantial growth and economic significance of the Cold Pressed Oil market both within India and on the global stage.
Our experience with IPV surpassed expectations. Their rapid engagement and transparent execution challenge the accepted norms of the VC space.
About Indic Wisdom
Indic Wisdom Pvt. Limited is a Mumbai-based manufacturer of food staples, with a core focus on wood-pressed oils. It strives to reinvigorate India’s traditional methods of food preparation through consistent innovation and application of modern quality standards to bring goodness to all.
