Palette Brands, formerly known as White.Inc, a consumer goods company renowned for its modern minimalist design and high-quality products, has successfully raised close to $2 million in a Pre-Series A funding round. This round was spearheaded by Rockstud Capital with significant contributions from existing investors such as Inflection Point Ventures (IPV) and Dholakia Ventures, along with prominent angel investors including Stoffer Anko Norden and Apurva Salapuria.
The newly secured funds will be utilized to launch the Ember cookware brand, enhance research and development efforts, and expand the team.
According to a Goldman Sachs Research report, India’s affluent consumer base is projected to grow from around 60 million in 2023 to 100 million by 2027. Palette Brands aims to cater to this aspirational market by offering products that combine exceptional design and value. The company’s portfolio includes ‘Unbottle,’ a sustainable drinkware line, and ‘Totem,’ accessories designed for Apple’s growing consumer base in India. The forthcoming Ember cookware line promises to blend vibrant Indian lifestyle elements with modern décor and non-toxic materials.
Siddharth Gadodia, Young Yun, Himanshi Tandon, and Bret Recor, the founders of Palette Brands, collectively bring over 30 years of experience in product development, technology, operations, e-commerce, supply chain, and marketing. Their mission is to revolutionize India’s consumer products industry with better design, superior products, and enhanced lifestyles.
In partnership with Box Clever, an award-winning design studio known for captivating consumer products and experiences, Palette Brands is set to innovate and deliver high-quality products to the market. Box Clever has a track record of creating successful products for market leaders in the USA.
Siddharth Gadodia, Founder of White Inc, stated, “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. This is a huge white space – marrying form and functionality. Ember aims to solve this by bringing India’s first absolutely non-toxic cookware brand with non-stick properties and stunning looks.”
Ivy Chin, Partner at Inflection Point Ventures, expressed confidence in Palette Brands’ vision, saying, “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. IPV aligns with Palette Brands core values of sustainability, innovative design, productivity, and affordability. We are confident of the brand’s potential to grow and are committed to supporting its journey.”
Abhishek Agarwal, Managing Partner of Rockstud Capital, highlighted the team’s strengths, “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 cookware category in our country as consumers are seeking new product offerings and refreshing new designs.”