Palette Brands, a D2C consumer goods startup, raised nearly $2 million in Pre-Series A funding led by Rockstud Capital, with participation from Inflection Point Ventures, Dholakia Ventures, and angel investors
The funds will be used to launch a new cookware brand called Ember, and for research, development, and team expansion
Palette Brands, previously known as White.Inc, currently offers the drinkware brand Unbottle and the Apple accessories brand Totem
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D2C consumer goods startup Palette Brands (erstwhile White.Inc) has raised close to $2 Mn (around 16.4 Cr) in a Pre-Series A funding round led by Rockstud Capital.
The round also saw participation from existing investors, including Inflection Point Ventures and Dholakia Ventures, along with a host of angel investors.
The company plans to use the fresh funds to roll out its new cookware brand Ember, as well as research and development and team expansion.
Founded by Siddharth Gadodia, Young Yun, Himanshi Tandon and Bret Recor in 2022, Palette Brands claims to have a tech-laden growth infrastructure that spans across consumer research, product development, supply chain, marketing and sales.
It has drinkware brand Unbottle and an Apple accessories brand Totem under its umbrella.
It is pertinent to note that White.Inc has rebranded itself to Palette Brands earlier this week.
“This line introduces an absolutely non-toxic cookware with non-stick properties. With consumers looking to upgrade their kitchens while making healthier choices, this is a huge white space – marrying form and functionality,” said Gadodia.
India’s direct-to-consumer (D2C) market, which is likely to reach a size of $100 Bn by 2025, has grown exponentially in the last few years. Several factors including the Covid pandemic, higher internet penetration, growth of digital infrastructure and rise in the number of millennials, among others, have shored up the D2C brands.
The space has also seen some funding deals in recent times.
Earlier this month, skincare solution startup CHOSEN by Dermatology secured a seed funding of $1.2 Mn (around INR 10 Cr) from friends and family.
Last month, D2C ethnic wear brand Libas bagged INR 150 Cr in a strategic funding round from ICICI Ventures, the alternative investment arm of ICICI Bank.
Prior to that, D2C snacks brand Adukale raised INR 11 Cr (about $1.3 Mn) in its Pre-Series A funding round led by Force Ventures. The round also saw participation from Aanya Ventures and angel investors such as Subrata Mitra and Radhika Pandit.
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