With the aim to scale up its operations and expanding its market presence, Indic Wisdom, a startup focusing on agri-produce, has raised ₹4 crore in a Pre-Series A funding round. The round was led by Inflection Point Ventures, with contributions from Mahendra Sankhe, Launch Capital, Bifco Finance, and other high-net-worth individuals (HNIs).
The fresh capital infusion is earmarked for enhancing the brand‘s visibility, expanding its distribution network, and increasing production capacity to boost market presence and operational efficiency, said a statement.
Founded by Kaustubh Khare and Prajakta Khare, Indic Wisdom is inspired by India’s rich culinary traditions, emphasising the need for natural food that is accessible to everyone.
The investment by Inflection Point Ventures comes at a time when the global market for wood-pressed oil is expected to witness significant growth, from $9.63 billion in 2022 to $18.61 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.57%.
“Conventional oils encounter issues concerning their quality, safety, nutrient content, and environmental impact. Choosing wood-pressed oils gives a healthier and more sustainable choice for both manufacturers and consumers,” said Rahul Wagh, Managing Director, Inflection Point Ventures.
“With the global wood-pressed oil market expected to grow from USD 9.63 billion in 2022 to USD 18.61 billion by 2030, at a compound annual growth rate (CAGR) of 8.57%, there’s a clear shift towards the healthier alternatives. This, with increasing awareness about the health concerns related to conventional oils, brings us here, to the right path that our ancestors paved,” Wagh added.
Indic Wisdom said that it distinguishes itself in the market with its in-house manufacturing, rigorous quality control processes, and financial stability, reflected in its PAT positive status for the past four years.
The company’s comprehensive range of oils and multi-channel presence underscore its unique position in the industry. Operating at a significant scale, Indic Wisdom extracts 70 thousand litres of oil per month, showcasing its substantial production capacity, said the company.
Prajakta Khare, Founder and Director of Indic Wisdom said that company aims to blend ancient wisdom and food production practices with modern production best practices and quality standards. With India’s stature on the rise globally and its manufacturing sector promising great potential, Indic Wisdom aspires to represent the best of India’s traditions, focusing on purity, accessibility, and sustainable growth.
“In an era when India is rising in stature in the world and our manufacturing is being looked at with great promise, we believe we can be the embodiment of India’s best traditions, promoting purity and accessibility of food, sustainable growth for ecosystems, and responsible conduct in society,” said Khare.
Given the projections that the Cold Pressed Oil market in India is set to reach an estimated ₹40,000 crores by 2030, and the global market is expected to approach $30 billion by 2028, the company positions itself to meet the increasing consumer demand for healthier and more sustainable oil products.
