Mumbai-based agricultural produce startup Indic Wisdom has announced raising Rs 4 crore in a pre-Series A funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm. The round also saw participation from Mahendra Sankhe, Launch Capital, Bifco Finance, and various high-net-worth individuals (HNIs).
With this infusion of funds, the startup intends to enhance its visibility, expand its distribution network, and bolster its production capacity. These efforts are aimed at increasing its market presence and operational efficiency.
Established by Kaustubh Khare and Prajakta Khare, Indic Wisdom Pvt. Limited specializes in the production of food staples, particularly wood-pressed oils. The startup aims to revitalize India’s traditional food preparation methods through continuous innovation and the application of modern quality standards, aiming to bring wholesome products to consumers.
Kaustubh, with 15 years of experience in digital supply chain management using SAP ERP, serves as the Founder and Director, while Prajakta, with 14 years of expertise in SAP ERP focusing on customer relationship management, campaign management, and digital distribution management, serves as the Co-Founder and Director.
Prajakta Khare, Founder & Director of Indic Wisdom, expressed, “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.”
Indic Wisdom operates a zero-waste manufacturing facility in Palghar, emphasizing local employment support and showcasing Indian manufacturing on the global stage. The startup claims a monthly GMV of Rs 2.5 crore.
The Cold Pressed Oil market in India is projected to reach approximately ₹40,000 crores by 2030, and globally, the category is expected to reach $30 billion by 2028. These figures underscore the significant growth and economic potential of the Cold Pressed Oil market, both domestically and internationally, as stated by the company.
Indic Wisdom claims to have maintained profitability for the past four years and boasts an extensive range of oils and a presence across multiple channels. Currently, the company operates at a scale where it extracts 70 thousand litres of oil per month.
