[Funding alert] Cultural startup Indic Inspirations raises angel funding of Rs 2.5 Cr from marquee investors
Pune-based cultural startup, Indic Inspirations, on Monday announced that it has raised ₹2.5 crore in angel round with marquee investors from California-USA, Singapore and India.
The angel investors who have invested include senior executives from Google-USA, Goldman Sachs-Singapore, Venture Finance Development Corporation, a Family Venture Fund, a Senior IT executive and seasoned Architecture-Design and Automobile industry entrepreneurs from India.
Founded in Dec 2019 by Sunil Jalihal, Indic Inspirations designs, manufactures, packages and markets Home Décor, Indic Souvenirs, Personal and Corporate Gifting products.
Sunil Jalihal is a serial entrepreneur and has many years of experience with Global IT companies including Wipro, Siemens and Hewlett-Packard, and has co-founded technology and social ventures.
Speaking on the development, Sunil Jalihal, Founder-CEO, Indic Inspirations, said,
“India with its rich culture, heritage, traditions and its achievements, it is sad that we don't have products and souvenirs that represent them. On the contrary, other countries are monetizing our ideas and concepts like Yoga and Haldi. We aim to tap a ₹10,000 crores Indian souvenir market with our collection of products. And with the ongoing buzz around ‘Make in India’ and ‘Indian Pride’ along with consumers and corporates looking for alternatives to Chinese products, the opportunities are endless to revive our arts & crafts and artisanal earnings.”
Commenting further on this announcement, Sanjay Anandaram said, “NICE (Network of Indian Cultural Enterprises)as an organisation is nurturing cultural entrepreneurs, enabling investments and fostering an ecosystem. We are pleased to be a part of Indic Inspirations’ journey to create a profitable and impactful cultural venture”.
The brand through its partnerships – with rich content owners such as Indian Space Research Organisation, ASI, BORI and bulk consumer end points including institutions and corporates, plans to deliver many valuable products.