Gaja Capital Leads The Indus Valley’s USD 17 Mn Funding 

The Indus Valley, a kitchenware D2C brand, has raised USD 17 million in a series B funding round led by Gaja Capital. Existing investors including DSG Consumer Partners, Rukam Capital and The Chennai Angels also participated in the round. 

Founded in 2016 by Jagadeesh Kumar and Madhumitha Uday Kumar, The Indus Valley focuses on ‘healthy cookware’ by providing toxin-free, non-coated cookware solutions across cast iron, iron, stainless steel, triply cookware, and pressure cookers. Its products are available on online marketplaces, quick commerce platforms as well as on its website. It also recently extended its presence in the offline retail channel.

The Indus Valley claims that it has scaled to a revenue run rate of INR 200 crore and is on a path to profitability. It aims to achieve INR 1,000 crore in annual revenue by 2030.

The Indian cookware market was worth nearly USD 2.7 Billion in 2025 and is projected to be worth USD 5.7 Billion by 2034, growing at a CAGR of 8.83%, according to an IMARC report. 

The report also noted the role of ecommerce and D2C channels in the growth of the Indian cookware market. It also mentioned The Indus Valley, which according to the report, generates nearly 60% of its revenue through D2C site and drives sales through Amazon and quick-commerce platforms like Swiggy Instamart, Blinkit, and Zepto. The report also mentioned social media push as one of key drivers of the growth. 

Apart from the legacy brands, Wonderchef, a kitchenware and home appliances brand co-founded by Ravi Saxena and Chef Sanjeev Kapoor, has also gotten some traction. 

Wonderchef reported a 11% growth in revenue to INR 421 crore in FY25. Its profit rose to INR 4.4 crore in FY25 from INR 1.5 crore in the previous fiscal year. Reports say that Wonderchef is looking to go public at a targeted valuation of around INR 1,800 crore.

Jagadeesh Kumar, Co-Founder & CEO of The Indus Valley, said, “… We are building much more than a cookware company – we are building India’s most trusted healthy kitchen brand. This investment will help us accelerate product innovation, strengthen our omnichannel distribution, deepen our brand presence, and expand our leadership across safer kitchen categories …” 

“Healthy cooking is the foundation of wellness, yet it remains an overlooked health decision for millions of Indian households. The Indus Valley has reimagined cookware for the modern Indian family, proving that toxin-free, non-coated solutions can scale while maintaining the highest standards of quality and trust. We’re excited to partner with them on this transformative journey to build India’s most trusted healthy kitchen brand,” Gopal Jain, Managing Partner at Gaja Capital adds.