Indic Wisdom has raised Rs 4 crore in pre-series A Round led by Inflection Point Ventures. The funds will be utilised to enhance the brand’s visibility, expand its distribution network, and build production capacity towards increasing market presence and operational efficiency, the company notified in a statement.
Rahul Wagh, Managing Director, Inflection Point Ventures, said in the statement, “Conventional oils encounter issues concerning their quality, safety, nutrient content and environmental impact. Choosing wood-pressed oils gives a healthier and more sustainable choice for both manufacturers and consumers. With the global wood-pressed oil market expected to grow from $9.63 billion in 2022 to $18.61 billion by 2030, at a Compound Annual Growth rate (CAGR) of 8.57 per cent, there’s a clear shift towards the healthier alternatives. This, with increasing awareness about the health concerns related to conventional oils, brings us here, to the right path that our ancestors paved.”
As per the latest industry data, the cold pressed oil market in India is projected to reach approximately Rs 40,000 crore by 2030. On a global scale, the category is expected to reach $30 billion by 2028, noted the statement.
Prajakta Khare, Founder and Director, Indic Wisdom, also said in the statement, “At Indic Wisdom, our goal is to take India’s timeless tradition of prasad – food that is pure, sustainable, and meant for everyone – to every corner of the world. We are doing this by taking our ancient wisdom and food production practices and infusing them with modern production best practices and quality standards. In an era when India is rising in stature in the world and our manufacturing is being looked at with great promise, we believe we can be the embodiment of India’s best traditions, promoting purity and accessibility of food, sustainable growth for ecosystems, and responsible conduct in society.