Chennai-based toxin-free kitchenware brand The Indus Valley raises $17 million in a Series B funding round led by private equity firm Gaja Capital. The company says the round includes investments from existing backers DSG Consumer Partners, Rukam Capital and The Chennai Angels, as well as participation from Gaja Capital. Indus Valley was founded in 2016 by Jagadeesh Kumar and Madhumitha Uday Kumar. The company sells toxin-free, non-coated cookware, including options made from cast iron and iron, as well as stainless steel and triply cookware, and pressure cookers.
Indus Valley says the new funding will be used to accelerate product innovation and strengthen its omnichannel distribution, while also deepening its brand presence. Business Line reports the capital is also earmarked for product development, brand building and expansion of its omnichannel distribution network. Company statements cited by the outlets also indicate that DSG Consumer Partners expects its investment to strengthen product and distribution capabilities. The outlets do not report changes in valuation or ownership following the round.
