Agri produce startup Indic Wisdom raises pre-Series A round

Indic Wisdom, an agri-produce startup, has raised Rs 4 crore in pre-Series A round led by Inflection Point Ventures. Mahendra Sankhe, Launch Capital, Bifco Finance, and other HNIs also participated in the round. 

The proceeds will be used to enhance the brand’s visibility, expand its distribution network, and build production capacity toward increasing market presence and operational efficiency, the company said in a press release.

Founded by Kaustubh Khare and Prajakta Khare, Indic Wisdom is a manufacturer of food staples, with a core focus on wood-pressed oils. It claims to use the traditional methods of food preparation through consistent innovation and application of modern quality standards.

The Mumbai-based brand's range of oils and its presence across multiple channels further contribute to its position in the market. Currently, it operates at a scale where it extracts 70,000 liters of oil per month.

Recently, angel investment platform Inflection Point Ventures (IPV) announced that it exited from 14 startups in 2023 giving an initial rate of return (IRR) of 61% to its investors. With this, IPV has announced 38 exits in the last five years.