Palette Brands, formerly known as White.Inc, has successfully closed a Pre-Series A funding round, raising approximately $2 million (around INR 16.4 Cr). The funding was led by Rockstud Capital, with participation from existing investors such as Inflection Point Ventures and Dholakia Ventures, alongside several angel investors.
Expanding the Product Portfolio
Founded in 2022 by Siddharth Gadodia, Young Yun, Himanshi Tandon, and Bret Recor, Palette Brands has swiftly emerged as a key player in the direct-to-consumer (D2C) consumer goods space. The company boasts a robust growth infrastructure encompassing consumer research, product development, supply chain management, marketing, and sales.
With the infusion of fresh capital, Palette Brands aims to introduce Ember, its latest cookware brand, catering to the growing demand for non-toxic and functional kitchenware. Gadodia emphasized the significance of Ember in addressing consumer preferences for healthier choices, highlighting the brand’s commitment to quality and innovation.
Dynamic D2C Landscape
The D2C market in India is experiencing unprecedented growth, projected to reach $100 billion by 2025. Factors such as the COVID-19 pandemic, increased internet penetration, digital infrastructure expansion, and the rise of the millennial demographic have fueled the rapid proliferation of D2C brands across various sectors.
Palette Brands’ strategic funding round underscores the investor community’s confidence in the company’s vision and growth trajectory. The infusion of capital will not only facilitate the launch of Ember but also drive research and development initiatives and bolster team expansion efforts.
Recent Funding Trends
The D2C segment has witnessed a flurry of funding activity in recent months, reflecting the sector’s immense potential and attractiveness to investors. Skincare solution startup CHOSEN by Dermatology secured a significant seed funding round, highlighting the continued interest in innovative solutions addressing consumer needs.
Moreover, D2C brands across diverse verticals, including ethnic wear and snacks, have successfully raised capital to fuel their expansion plans. Libas, an ethnic wear brand, received strategic funding from ICICI Ventures, while Adukale, a snacks brand, closed a Pre-Series A funding round led by Force Ventures.
Charting a Path for Growth
As Palette Brands embarks on its next phase of growth, the company remains committed to delivering high-quality products and exceptional consumer experiences. With a strong foundation and a clear vision for the future, Palette Brands is poised to capitalize on the burgeoning opportunities within the dynamic D2C landscape, driving innovation and redefining consumer expectations in the process.
