February 22, 2024, Mumbai: Indic Wisdom, an agricultural produce startup, has successfully raised ₹4 crores in its Pre-Series A Round led by Inflection Point Ventures. The round also saw participation from Mahendra Sankhe, Launch Capital, Bifco Finance, and other High Net Worth Individuals (HNIs). The infusion of funds is earmarked for enhancing brand visibility, expanding the distribution network, and scaling up production capacity to bolster market presence and operational efficiency.
Founded on the ethos of India’s rich culinary traditions, Indic Wisdom Pvt. Limited endeavors to modernize age-old wisdom and deliver goodness at scale, with a special focus on wood-pressed oils. Co-founders Kaustubh Khare and Prajakta Khare draw from their extensive corporate experience, with Kaustubh boasting 15 years in SAP ERP specializing in Digital Supply Chain Management and Prajakta bringing in 14 years of expertise in SAP ERP, focusing on CRM, Campaign Management, and Digital Distribution Management. Their collective expertise propels Indic Wisdom’s mission to deliver unparalleled purity and cultural heritage in every drop.
Rahul Wagh, Managing Director at Inflection Point Ventures, underscores the significance of wood-pressed oils amid growing concerns over the quality, safety, nutrient content, and environmental impact of conventional oils. With the global wood-pressed oil market projected to witness substantial growth, there is a discernible shift towards healthier alternatives, fueled by increasing consumer awareness about health-related concerns associated with conventional oils.
Indic Wisdom distinguishes itself with its in-house manufacturing capabilities, stringent quality control measures, and price parity in the category. The brand’s sustained profitability over the past four years and extensive product range contribute to its robust market position. Operating at a significant scale, the company currently extracts 70 thousand liters of oil per month, showcasing its substantial production capacity.
Prajakta Khare, Founder & Director of Indic Wisdom, articulates the brand’s vision of propagating India’s tradition of pure, sustainable food globally. With a commitment to infusing ancient wisdom with modern production best practices, the company aims to promote purity, accessibility, and sustainability in food production while fostering responsible conduct in society. Prajakta emphasizes the brand’s zero-waste manufacturing facility, India’s largest wood-pressed oil extraction plant, which has not only generated employment in the tribal belt of Palghar but also achieved an impressive monthly Gross Merchandise Value (GMV) of ₹2.5 crores.
With the Cold Pressed Oil market in India and globally poised for substantial growth, Indic Wisdom is strategically positioned to capitalize on emerging opportunities and spearhead innovation in the agricultural produce sector. The company’s collaboration with Inflection Point Ventures has exceeded expectations, reflecting its commitment to rapid engagement and transparent execution in the venture capital landscape.
Submitted by PR Agency
