Funding Alert

Indic Wisdom Secures INR 4 Crores in Pre-Series A Round Led by Inflection Point Ventures

• ByStartupStory     |    February 22, 2024

Indic Wisdom, a pioneering agri-produce startup, has successfully raised ₹4 crores in a Pre-Series A funding round led by Inflection Point Ventures. The investment round saw participation from prominent backers, including Mahendra Sankhe, Launch Capital, Bifco Finance, and other High Net Worth Individuals (HNIs).

The newly acquired funds are earmarked to bolster the brand’s visibility, expand its distribution network, and enhance production capacity, aligning with its strategic goals of increasing market presence and operational efficiency.

Inspired by India’s inclusive culinary traditions, founders Kaustubh Khare and Prajakta Khare established Indic Wisdom Pvt. Limited, placing a significant emphasis on wood-pressed oils. Kaustubh, a seasoned professional with 15 years in SAP ERP specializing in Digital Supply Chain Management, serves as the Founder and Director. Prajakta, the Co-Founder and Director, brings 14 years of expertise in SAP ERP, focusing on CRM, Campaign Management, and Digital Distribution Management.

Rahul Wagh, Managing Director at Inflection Point Ventures, emphasized the global shift towards healthier alternatives, citing the wood-pressed oil market’s projected growth from USD 9.63 billion in 2022 to USD 18.61 billion by 2030, with a CAGR of 8.57%.

Indic Wisdom’s unique selling points include in-house manufacturing, rigorous quality control, and price parity within the category. The brand has maintained positive profits after tax (PAT) for the past four years, showcasing financial stability. Operating at scale, the company extracts an impressive 70 thousand liters of oil per month.

Prajakta Khare, Founder & Director at Indic Wisdom, expressed the company’s mission to take India’s timeless tradition of pure, sustainable food to every corner of the world. She highlighted their commitment to infusing ancient wisdom with modern production best practices and quality standards. Prajakta lauded their bootstrapped journey, showcasing India’s largest ZERO WASTE wood-pressed oil extraction plant, generating employment in Palghar’s tribal belt, and achieving a monthly Gross Merchandise Value (GMV) of ₹2.5 crores.

In conclusion, Prajakta shared the impressive industry projections, with the Cold Pressed Oil market in India anticipated to reach ₹40,000 crores by 2030 and the global market expected to hit $30 billion by 2028.

Reflecting on their experience with Inflection Point Ventures, Prajakta commended their rapid engagement and transparent execution, challenging the accepted norms of the VC space.

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