Good Roots Kitchenware Pvt. Ltd, which operates healthy kitchen products focussed The Indus Valley, has raised Rs 2.5 crore (approximately $338,187 at current exchange rates) in funding.
The Chennai-based firm has raised the capital from The Chennai Angels (TCA), The Hindu reported citing serial entrepreneur Chandu Nair, who led the investment round.
Members of the angel investment network who participated in the round include CK Ranganathan, V Shankar, Satish Kumar, and Lakshmi Narayanan.
This is the second time The Chennai Angels has committed to The Indus Valley. In July last year, the community bet Rs 1 crore on the startup.
VCCircle has reached out to The Indus Valley on the details of the funding and will update this report accordingly.
The Indus Valley was founded in 2016 by Jagadeesh Kumar and Madhumita Udaykumar. The company says it designs, markets and sells cookware products such as frying pans and griddles. It primarily maintains a presence through online channels such as its website and e-commerce portals like Amazon.
Kumar claimed the company achieved a growth of 500% over the previous financial year and that it was on track to achieve aggressive growth figures during the upcoming fiscal.
The Chennai Angels, meanwhile, was set up in 2007. According to its website, the group says its network members identify and assess startup funding proposals. They also support and mentor entrepreneurs through capital, networking and sectoral experience.
TCA says its network of over 100 angel investors have funded over 50 startups, with a cumulative commitment of over Rs 70 crores. Companies in its portfolio include tea retail chain Chai Kings, education technology firm Edgefx Technologies Pvt. Ltd, end-to-end car servicing startup GoBumpr, and parking space aggregator Getmyparking.
It has also exited from companies including mobile value-added services provider Future Telecom, corporate catering provider The Green Peppers, software-as-a-service product firm CloudCherry, beauty products services marketplace Purplle and rooftop solar company Fourth Partner Energy.
