[Funding alert] The Indus Valley raises $1.1M from Rukam Capital, DSG Consumer Partners, The Chennai Angels
Chennai-based D2C kitchenware startup, The Indus Valley on Monday announced that it has raised $1.1 million from Rukam Capital, DSG Consumer Partners (DSGCP), and The Chennai Angels. The round also saw participation from Lead Angels Network and Calega Family Office Investor Group.
According to the official statement, the startup intends to utilise the infused capital to expand its product portfolio, strengthen its team and geographical reach across the country.
Commenting on the investment, Archana Jahagirdar, Managing Partner, Rukam Capital, said,
“In a country where people are moving towards healthier, sustainable lifestyles, we believe that The Indus Valley aids this movement with its unique offerings. This industry has incredible potential to be explored, and Indus Valley is visioned towards solving the people’s problem statement to have chemical-free cookware. Its D2C digitised model of business makes health-focused kitchenware accessible. We at Rukam Capital believe that such startups and ventures can help people to get more aware about their health and wellness, and in the coming days, we can foresee a significant uptick in demand for toxin-free cookware.”
Speaking about the capital infusion, Jagadeesh Kumar, Co-founder and CEO, The Indus Valley, said,
“We welcome Rukam Capital and DSG Consumer Partners on board to join us in our journey to thrive and deliver health-first equipment to kitchens across the nation. We disrupted the segment by being the first mover in the industry, and ever since then, it has been a high-growth niche in the overall cookware industry. We realised that customers have become more health-conscious than ever before and are looking for non-chemical products to ensure their safety. Keeping in mind these growing demands, our products are carefully engineered to provide the most healthy cookware without any usage of chemicals.”
Founded in 2016 by Jagadeesh Kumar and Madhumitha Udaykumar,offers natural, toxin-free kitchenware, providing alternatives to chemically coated products. It claims to have achieved an annualised run rate of Rs 210 million in a capital-efficient manner.
All products are produced only with natural materials like cast iron, iron, copper, clay and wood to avoid the usage of any chemicals, coating or harmful additives.
Deepak Shahdadpuri, Managing Director of DSGCP, added, “We are witnessing a shift from value-driven functionality focused kitchenware products towards healthier and better-for-you products. Non-stick materials like Teflon, which are pervasive, can pose health risks when overheated. Extensive use of plastic can also cause issues when exposed to extreme heat. We have been tracking this trend globally and have seen a switch to cookware made from cast iron, ceramic, copper, wood and glass, amongst others. Jagadeesh and Madhumitha have developed a portfolio of natural cookware products and are focused on building The Indus Valley as the leading Indian brand in the category. This includes educating the Indian consumer on the benefits of natural cookware, usage and maintenance.”
Since its inception, the company claims to have served more than two lakh orders and has a strong digital retail presence on marketplaces such asand , besides retailing on its own website. With a current portfolio of more than 230 SKUs in its offerings, The Indus Valley is continuously expanding its product range with the aim of increasing to 1,000 SKUs in the next 24 months.