Indic Wisdom Secures $2M in Pre-Series A Funding from Rockstud Capital
Deal News | Nov 19, 2024 | Rockstud Capital LLP
Indic Wisdom, a Mumbai-based manufacturer of wood-pressed oils, has raised $2 million (approximately INR 16.88 crore) in a pre-Series A funding round led by Rockstud Capital. The funding, which also saw participation from undisclosed investors, is aimed at scaling the company's manufacturing unit and exploring opportunities in quick commerce. Founded in 2016 by Kaustubh and Prajakta Khare, Indic Wisdom specializes in traditional lakdi ghani-based extraction methods that preserve the natural nutrients and flavors of its oils. This investment comes as demand for healthier oil options grows amid concerns over conventional refined oils. Earlier this year, Indic Wisdom raised INR 4 crore in funding led by Inflection Point Ventures and several other investors. The Indian market for cold-pressed and wood oils, valued at $79.9 million in 2023, is projected to grow to $136.6 million by 2032.
Sectors
- Food and Beverage
- Consumer Packaged Goods
- Private Equity
Geography
- India – Indic Wisdom is based in Mumbai, India, and operates within the Indian market, which is relevant to the geographical context of the funding and industry growth.
Industry
- Food and Beverage – Indic Wisdom operates within the food and beverage industry with its focus on oils derived from traditional methods, targeting health-conscious consumers.
- Consumer Packaged Goods – The company's product offerings fall within the consumer packaged goods sector, addressing the demand for specialized cooking and multi-purpose oils.
- Private Equity – The article discusses a funding event led by Rockstud Capital, a private equity firm, involved in the financial backing of Indic Wisdom.
Financials
- $2 Million – Amount raised by Indic Wisdom in the pre-Series A funding round.
- INR 4 Crore – Amount raised by Indic Wisdom in a previous funding round earlier in the year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Indic Wisdom | Target | Company | A Mumbai-based manufacturer of wood-pressed oils, founded by Kaustubh and Prajakta Khare. |
| Rockstud Capital LLP | Lead Investor | Company | A private equity firm that led the pre-Series A funding round. |
| Kaustubh Khare | Co-Founder | Person | Co-founder of Indic Wisdom, involved in scaling the business with traditional extraction methods. |
| Prajakta Khare | Co-Founder | Person | Co-founder of Indic Wisdom, emphasizing traditional practices with modern standards. |
| Abhishek Agarwal | Managing Partner | Person | Managing Partner at Rockstud Capital, supportive of Indic Wisdom's market approach. |
| Inflection Point Ventures | Previous Investor | Company | Previously led a funding round for Indic Wisdom earlier in the year. |
| Launch Capital | Previous Investor | Company | Participated in previous funding for Indic Wisdom. |
| Bifco Finance | Previous Investor | Company | Involved in a prior funding round for Indic Wisdom. |