Agri produce startup Indic Wisdom raised Rs 4 Cr Pre-Series A funding from IPV
The pre-Series A round led by Inflection Point Ventures has seen the agri-produce startup Indic Wisdom raise Rs 4 crore. Other HNIs in the round included Mahendra Sankhe, Launch Capital, and Bifco Finance.
In order to increase market presence and operational efficiency, the company stated in a press release that the proceeds will be utilized to improve the brand’s visibility, grow its distribution network, and build production capacity.
Established by Kaustubh and Prajakta Khare, Indic Wisdom is a food staples manufacturer specializing in wood-pressed oils. It claims that by continuously innovating and applying contemporary quality standards, it uses traditional methods of food preparation.
The Mumbai-based brand’s assortment of oils and availability through a variety of channels help to solidify its place in the industry. It currently runs at a capacity of 70,000 liters of oil extraction per month.
The angel investment platform Inflection Point Ventures (IPV) recently revealed that it will be leaving 14 startups in 2023 and providing its investors with an initial rate of return (IRR) of 61%. With this, IPV has declared 38 departures during the previous five years.
