Mumbai-based wood-pressed oils manufacturer Indic Wisdom has raised $2 million (approximately INR 16.88 crore) in its Pre-Series A funding round, led by Rockstud Capital and supported by undisclosed investors.
Indic Wisdom to use capital for Q-commerce expansion
The fresh capital will be used to scale up Indic Wisdom’s manufacturing unit and venture into the quick commerce space.
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“With Indic Wisdom, we want to take India’s timeless tradition of prasad – food that is pure, sustainable, and meant for everyone – to the world. We are doing this by incorporating modern production best practices and quality standards in traditional food production practices,” said Prajakta Khare, according to INC42.
Meanwhile, Rockstud Capital’s managing partner, Abhishek Agarwal, expressed confidence in Indic Wisdom’s potential, stating, “As consumers become more aware of the importance of wood-pressed oils in the face of growing concerns about conventional refined oils’ quality, safety, nutrient content, and environmental impact, we believe Indic Wisdom has a great opportunity to cater to people with its extensive product line, which meets the diverse demands and preferences of health-conscious consumers.”
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Indic Wisdom raises INR 4 Cr led by HNIs, Investors
This funding round follows Indic Wisdom’s earlier raise of INR 4 crore, led by Inflection Point Ventures, along with Launch Capital, Bifco Finance, and other high net worth individuals.
Founded in 2016 by Kaustubh Khare and Prajakta Khare, Indic Wisdom specialises in traditional lakdi ghani-based extraction methods to produce cooking oils, multi-purpose oils, and specialty oils that preserve natural nutrients and flavours.
The Indian cold-processed and wood oil market is expected to grow at a rate of 5.94% from 2024 to 2032, reaching INR 1151 crore by 2032, according to a report. Indic Wisdom is well-positioned to capitalise on this growth, offering a range of products that cater to the increasing demand for healthy and sustainable food options.
