Gramiyaa, a Bangalore-based vertically integrated producer of cold-pressed oils, has secured INR 9.5 Crore in debt and equity infusion in its first external funding round. Led by UAE’s Homegrown Ventures and joined by Mumbai Angels and Campus Fund, this investment marks a significant milestone for Gramiyaa. The capital injection will bolster the company’s expansion efforts in both the Indian and US markets.
Established in 2017 by Sibi Manivannan, a third-generation traditional oil-maker, Gramiyaa initially operated through brick-and-mortar brand outlets in Trichy, Tamil Nadu. However, in 2020, the company transitioned to an online-first approach following the addition of co-founders Mohamed Yaseen and Naveen Rajamaran. Gramiyaa now distributes its products primarily through its website and various online marketplaces. To facilitate efficient distribution, the company utilizes micro warehouses strategically located in six major cities: Bangalore, Chennai, Hyderabad, Mumbai, Delhi, and Pune. With an in-house manufacturing unit in Tamil Nadu and a local warehousing model, Gramiyaa ensures the consistent delivery of high-quality products at affordable prices.
Speaking about the investment, Nader Amiri, General partner of Homegrown Ventures said, “The cooking oil sector has remained relatively stagnant in terms of innovation or enhancement for quite some time. Consumers, especially the younger demographic, are growing more skeptical of claims made by traditional edible oil brands, seeking transparency and authenticity. We’re incredibly enthusiastic about partnering with Gramiyaa, believing strongly that their team and commitment to process excellence have the capacity to fulfill the discerning demands of consumers, not only in India but on a global scale.”
Additionally, their US FDA and ISO certified manufacturing process enabled the company to export their products early on. Gramiyaa’s wood cold-pressed oils are sold in ethnic Indian stores across the USA.
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Mohamed Yaseen, Co-Founder of Gramiyaa, remarked, “Many direct-to-consumer cold-pressed oil brands opt to white-label products from small-scale oil mills to minimize their capital expenditure. However, this approach poses risks of hygiene, adulteration, and inconsistency, factors that discerning consumers strongly oppose. Therefore, Gramiyaa places a high priority on robust vertical integration while concurrently crafting a brand that resonates with the new generation.”
Financial Performance
During FY24, Gramiyaa manufactured 2.87 lakh litres of oil, generating a net revenue of INR 12 Crore while maintaining profitability in terms of EBITDA. With the infusion of recent funding, the company is now aiming for even more ambitious growth targets and intends to amplify its brand-building and marketing endeavors.
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