VC Fund Investments
D2C kitchenware maker Indus Valley raises Rs.15-Cr from existing investors
D2C kitchenware startup The Indus Valley has raised INR 15.33 crore (USD 1.87 million) in a Seed 2 round led by existing investors DSG Consumer Partners and Rukam Capital. Indus Valley will issue 66,690 Seed 2 compulsory convertible preference shares (CCPS) at an issue price of INR 2,299 per share to raise INR 15.33 crore. The company has been valued at around INR 116 crore (about USD 14 million), post-money. DSG Consumer Partners invested INR 12 crore (USD 1.46 million) followed by Rukam Capital which infused INR 2.58 crore. The remaining sum was invested by TCA (The Chennai Angels) investors including Indiaxis Investments, Zend Advisors, Candle Advisors, Rajiv Pillai, Girish Gupte, Shavak Shrivastava, Chandu Nair, Kayar Raghavan, Anusha Narayan, and Mahendra Singh Negi. Six-year-old Indus Valley offers toxin-free kitchenware, providing alternatives to chemically coated products. The company sells these products via marketplaces Amazon, Flipkart and its own website. The firm's co-founders Madhumitha Udaykumar and Jagadeesh Kumar hold 52.8% stake followed by DSG Consumer Partners and Rukam Capital which own 18.16% and 10% stake respectively. Its operating revenue grew over two folds to INR 12.12 crore in FY21 from INR 5.8 crore in FY20.
From the Venture Intelligence PE-VC Deal Database: In Jun-2021, The Indus Valley had raised over USD 1 M from DSG Consumer Partners, Rukam Capital and angel investors. TCA had invested in the company in Jul-2019 and was joined by Lead Angels in 2021. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
