The Chennai Angels (TCA) has made an additional investment of ₹2.5 crore, in a bridge round, in city-based start-up — The Indus Valley. In 2019, TCA invested ₹1 crore in this startup.
Serial entrepreneur Chandu Nair led the investment round with business leaders in Chennai including C.K. Ranganathan, chairman and managing director of CavinKare, Lakshmi Narayanan, emeritus vice chairman of Cognizant, V. Shankar of Acsys Investments Pvt Ltd and Satish Kumar who was the former managing director of Henkel India Ltd.
Founded in 2016 by the husband and wife duo Jagadeesh Kumar and Madhumitha Udaykumar, The Indus Valley designs and sells healthy cookware products such as tawas, kadais and spatulas, primarily online and on e-commerce portals including Amazon and Flipkart. Currently they claim they are processing 6,000-plus online orders every month.
The start-up will use the funds raised to expand its presence in India’s growing home and kitchen products space. “We have grown 500% over the previous financial year and are on track for very aggressive growth next year as well,” said Jagadeesh Kumar of The Indus Valley. “With more people in India moving towards healthier lifestyle choices, we are a constant hit among our target group,” added Madhumitha Udaykumar.
“We believe that the company has great growth potential. This bridge round reaffirms our conviction of the product, the model and core team.”, said Mr. Chandu Nair who led the investment from The Chennai Angels.
Source: https://www.thehindu.com/news/cities/chennai/chennai-based-cookware-start-up-gets-25-crore-in-additional-investment/article31081100.ece
