Kitchenware Startup 'Indus Valley' lifts Rs. 23.1 crore in Pre-series A
The Indus Valley, a digital-to-consumer kitchenware startup, has raised Rs. 23.1 crore in its pre-Series A round, led by DSG Ventures. The first investment for the Chennai-based firm comes after a 25-month hiatus.
A board resolution has been passed by Indus Valley to issue 41,485 pre-series A CCPS at a price of Rs 5,580.4 each, raising Rs. 23.1 crore or $2.75 million, according to the regulatory filing sourced from the RoC.
The DSG Consumer Partners fund contributed Rs. 14.5 crore, while the White Whale Venture fund contributed Rs. 3.52 crore. Candle and zend advisors. The remaining sum was invested by individuals, including Shavak Srivastava, Rajiv Pillai, and Girish Gupte.
From the specified sum, the company has already received Rs. 18.62 crore, and the remaining funds are expected to be wired soon.
Data intelligence platform TheKredible estimates the company to be valued at Rs. 303 crore or $36 million post-money. The previous funding round valued it at Rs. 116 crore, which was around threefold. The funding round appears to be ongoing, and the firm may seek further funding.
The Indus Valley offers safe alternatives to chemically coated products, and specializes in toxin-free kitchenware. Cast iron, iron, copper, clay, and wood are some of its materials.
During the fiscal year ended March 2023, the company experienced a 68% year-on-year growth to Rs. 38.81 crore. In the same period, the firm's losses jumped by 2.8 times to a whopping Rs. 8.98 crore. The company has yet to submit its annual report for the previous fiscal year (FY24).
A board resolution has been passed by Indus Valley to issue 41,485 pre-series A CCPS at a price of Rs 5,580.4 each, raising Rs. 23.1 crore or $2.75 million, according to the regulatory filing sourced from the RoC.
The DSG Consumer Partners fund contributed Rs. 14.5 crore, while the White Whale Venture fund contributed Rs. 3.52 crore. Candle and zend advisors. The remaining sum was invested by individuals, including Shavak Srivastava, Rajiv Pillai, and Girish Gupte.
From the specified sum, the company has already received Rs. 18.62 crore, and the remaining funds are expected to be wired soon.
Data intelligence platform TheKredible estimates the company to be valued at Rs. 303 crore or $36 million post-money. The previous funding round valued it at Rs. 116 crore, which was around threefold. The funding round appears to be ongoing, and the firm may seek further funding.
The Indus Valley offers safe alternatives to chemically coated products, and specializes in toxin-free kitchenware. Cast iron, iron, copper, clay, and wood are some of its materials.
During the fiscal year ended March 2023, the company experienced a 68% year-on-year growth to Rs. 38.81 crore. In the same period, the firm's losses jumped by 2.8 times to a whopping Rs. 8.98 crore. The company has yet to submit its annual report for the previous fiscal year (FY24).
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