The round was led by Rockstud Capital, along with participation from existing investors, including IPV and Dholakia Ventures.
Palette Brands (formerly White. Inc.), a next-generation consumer goods company, has raised close to $2 million in a pre-series A round. The round was led by Rockstud Capital, along with participation from existing investors, including IPV and Dholakia Ventures, and some prominent angel investors, including Stoffer Anko Norden and Apurva Salapuria.
According to a report by Goldman Sachs Research, the cohort of affluent consumers in India will increase from around 60 million in 2023 to 100 million people by 2027. Palette is building for this aspirational, affluent consumer who seeks great product design and value, as per a consumer statement.
This includes products in the mass premium segment of categories that have a large TAM and significant unmet consumer needs. The company will soon be launching the cookware brand ‘Ember’, a non-toxic product inspired by a vibrant Indian lifestyle and modern décor.
Siddharth Gadodia, Founder of White Inc., said, “This funding will predominantly focus on the launch of Ember, a cookware brand, as this category is ripe for innovation, with consumers looking to upgrade their kitchens while making healthier choices.”
Ivy Chin, Partner, Inflection Point Ventures, said, “In today’s era, aesthetics often takes precedence, with consumers prioritizing the visual and tactile appeal of the products. This growing trend has led to higher-priced items that do not offer superior functionality. Palette Brands distinguishes itself by combining high-quality design, materials, and performance, thus providing excellent value for money.”
Abhishek Agarwal, Managing Partner of Rockstud Capital, said, "The founding team comes with a diverse background and complementary skillset, which is extremely important when you are building a brand in the consumer space in India. Also, there is a huge whitespace and potential for disruption when it comes to the cookware category in our country, as consumers are seeking new product offerings and refreshing new designs."