Friday, July 19, 2024

Indic Wisdom: Revolutionizing Agri-Produce through Tradition and Innovation with ₹4 Crores Funding in Pre-Series A Round


Indic Wisdom: Embracing Tradition through Innovation in Agri-Produce Sector

In a significant stride towards revolutionizing the traditional agri-produce domain, Indic Wisdom Pvt. Limited has successfully secured a funding of ₹4 crores in its Pre-Series A round, spearheaded by Inflection Point Ventures (IPV). This monumental backing further includes contributions from Mahendra Sankhe, Launch Capital, Bifco Finance, and other high net-worth individuals (HNIs). The infusion of funds is earmarked for enhancing the brand’s visibility, expanding its distribution network, and bolstering production capabilities. These strategic moves are aimed at scaling market presence and refining operational efficacy across the board.

Rooted in the rich tapestry of India’s culinary traditions, Indic Wisdom aspires to reflect the nation’s inherent nurturance ethos. Founders Kaustubh Khare and Prajakta Khare drew upon the princely virtues of natural food and communal sharing, setting out to adapt these timeless tenets to modern-day sensibilities through the production of wood-pressed oils.

With Kaustubh Khare at the helm as Founder and Director, fortified by 15 years of specialization in SAP ERP and Digital Supply Chain Management, alongside Prajakta Khare, Co-Founder and Director with 14 years of experience in SAP ERP across CRM, Campaign Management, and Digital Distribution Management, Indic Wisdom thrives under their visionary leadership. Together, they champion the quest to intersperse each droplet of their product with purity and the rich cultural values of India.

Highlighting the strategic importance of this venture, Rahul Wagh, Managing Director at Inflection Point Ventures, pointed out, “The escalating concerns regarding the quality, safety, nutrient content and environmental footprint of conventional oils necessitate a healthier and sustainable alternative. This paradigm shift towards wood-pressed oils, set against a global backdrop anticipating the market’s growth to USD 18.61 billion by 2030, underscores our ancestral wisdom’s relevance and the burgeoning demand for healthier alternatives in contemporary lifestyles.”

Distinctive in its approach, Indic Wisdom prides itself on its in-house production and stringent quality controls to deliver exceptional products. Demonstrating commendable financial health, the brand has remained PAT positive over the last four years, underlining its stability in a competitive landscape. Its extensive product line, alongside a robust presence across diverse channels, further cements its unique market stance.

Operating at an impressive capacity, Indic Wisdom presently produces 70 thousand liters of oil monthly, showcasing an exemplary scale of operations in the wood-pressed oil sector.

Prajakta Khare elaborates on the brand’s mission, “Indic Wisdom is dedicated to globalizing India’s sacrosanct tradition of prasad—pure, sustainable food meant for all. By merging ancient food production wisdom with contemporary quality standards, we aspire to embody India’s venerable traditions, championing purity, sustainability, and societal responsibility in the global narrative. Our Zero Waste manufacturing facility not only stands as India’s largest but also champions employment in the Palghar tribal belt, with a remarkable monthly GMV of ₹2.5 crores.”

The Cold Pressed Oil market, projected to hit approximately ₹40,000 crores by 2030 in India and reach $30 billion globally by 2028, represents a burgeoning industry with vast economic implications. Indic Wisdom and its association with IPV signifies a mutual commitment towards nurturing this growth within the agritech space, paving the way for a healthier, sustainable future.

Alex Sterling
Alex Sterling
Alex Sterling is a seasoned journalist with over a decade of experience covering the dynamic world of business and finance. With a keen eye for detail and a passion for uncovering the stories behind the headlines, Alex has become a respected voice in the industry. Before joining our business blog, Alex reported for major financial news outlets, where they developed a reputation for insightful analysis and compelling storytelling. Alex's work is driven by a commitment to provide readers with the information they need to make informed decisions. Whether it's breaking down complex economic trends or highlighting emerging business opportunities, Alex's writing is accessible, informative, and always engaging.

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