Chennai-based kitchenware startup The Indus Valley has raised ₹23.1 crore in a pre-Series A funding round led by DSG Ventures, as exclusively reported by Entrackr.
This marks the company’s first funding in over two years.
The funds were raised through the issuance of 41,485 shares at a price of ₹5,580.4 per share. DSG Ventures led the round with an investment of ₹14.5 crore, while White Whale Venture Fund contributed ₹3.52 crore.
Other participants included Candle Advisors, Zend Advisors, and individual investors such as Shavak Srivastava, Rajiv Pillai, and Girish Gupte.
As of now, the company has received ₹18.62 crore from this round, with the remaining amount expected to follow soon.
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About The Indus Valley
Founded by Madhumitha Udaykumar and Jagadeesh Kumar, The Indus Valley specializes in toxin-free kitchenware made from materials such as cast iron, copper, clay, and wood. Its products are marketed as safe alternatives to chemically coated cookware.
Post-funding, the company is valued at ₹303 crore ($36 million), a significant increase from its ₹116 crore valuation in its previous funding round.
The funding round remains open, with the potential for additional capital to be raised.
In the fiscal year ending March 2023, The Indus Valley reported a 68% revenue growth, reaching ₹38.81 crore. However, losses increased to ₹8.98 crore, nearly 2.8 times higher than the previous year. The company has not yet released its financial results for FY24.
