Kitchenware brand The Indus Valley bags $17M from Gaja Capital, existing investors

Kitchenware brand The Indus Valley has raised $17 million in a Series B funding round led by private equity firm Gaja Capital. Existing investors DSG Consumer Partners, an early-stage consumer-focused investment firm, Rukam Capital, and The Chennai Angels also participated in the round.

The Chennai-based company said the fresh capital will be used to accelerate product innovation, strengthen its omnichannel distribution network, deepen brand awareness and expand into more healthy kitchen product categories.

Founded in 2016 by Jagadeesh Kumar and Madhumitha Uday Kumar, The Indus Valley says it makes toxin-free cookware and kitchen products using materials such as cast iron, iron and stainless steel rather than relying on chemical non-stick coatings. Its portfolio includes cookware, pressure cookers and other kitchen essentials.

“We are building much more than a cookware company,” co-founder and chief executive officer Jagadeesh Kumar said. He added that the investment would help the firm expand its presence while making cookware that is “safe, durable, and free from harmful coatings” more widely accessible.

The company said it has reached an annual revenue run rate of about Rs 200 crore and is targeting Rs 1,000 crore in annual revenue by 2030. It has built a digital presence across its direct-to-consumer platform, major online marketplaces and quick commerce channels, while also expanding into offline retail. The brand says it serves millions of households.

Gopal Jain, managing partner at Gaja Capital, said healthy cooking remains “an overlooked health decision for millions of Indian households”. He added The Indus Valley had shown that toxin-free, non-coated cookware could scale while maintaining high standards of quality and trust, making it an attractive long-term investment.

Existing backer DSG Consumer Partners also pointed out the company’s disciplined execution. Hariharan Premkumar, managing director and head of India, said the founders had built the business from around Rs 12 crore to Rs 200 crore with “very little capital”, adding that the new funding would strengthen its products and distribution network.

The funding comes as Indian consumers become increasingly conscious of health, sustainability, and product safety, driving demand for alternatives to conventional non-stick cookware. Manufacturers have been expanding offerings in cast iron, stainless steel and other durable materials as buyers seek products that avoid synthetic coatings.

Meanwhile, the broader direct-to-consumer segment has also benefited from the rapid growth of quick commerce and digital shopping, allowing niche brands to reach customers more efficiently.

Investment activity in India’s consumer and home products ecosystem has remained active despite a selective funding environment. In recent months, investors have continued to back brands focused on wellness, premium household products and healthier lifestyles, highlighting growing confidence in consumer businesses with strong unit economics and differentiated offerings.