Exclusive: Shark Tank India-backed P-Tal to raise fresh funds in pre-Series A round

Kitchenware and home decor brand P-TAL is raising Rs 23 crore (approximately $2.7 million) from Rainmatter Capital, Anicut Capital, Venture Catalyst, RealTime Angel Fund, and 14 other investors.

P-Tal featured in Season 3 of Shark Tank India and secured Rs 1 crore funding from Aman Gupta, Anupam Mittal, Amit Jain, Namita Thapar, and Vineeta Singh.

The board at P-Tal to issue pre-Series A compulsory convertible preference shares to raise the aforementioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows.

The company has received Rs 2.3 crore from Anicut Capital, while the rest of the round breakup is not given. According to Entrackr’s estimates, the company will be valued at Rs 116 crore ($13.6 million) post-money.

The company was reportedly in talks to raise Rs 30 crore from existing investors Titan Capital, Anicut Capital, and other angel investors.

Founded in 2019 by Agrawal, Kirti Goel, and Gaurav Garg, P-TAL (Punjab Thathera Art Legacy) sells handcrafted copper, brass, and kansa cookware, drinkware, and home decor. It caters to health-conscious consumers and fans of traditional Indian cooking and sustainable living.

The company last raised Rs 4.33 crore in a seed round in October 2023, led by Titan Capital, with participation from Anicut Capital, Ghazal Aggarwal, Sandeep Aggarwal, Ashutosh Valani, and others.

For the fiscal year ended March 2024, the Amritsar-based company reported revenue of Rs 5 crore and a net loss of Rs 1 crore during the same period.