Palette Brands (earlier White.Inc), a consumer goods company, has raised close to $2 million in a pre-Series A round led by Rockstud Capital.
The round also saw participation from existing investors such as IPV & Dholakia Ventures, alongside angel investors Stoffer Anko Norden and Apurva Salapuria.
The primary focus of this funding will be on the launch of Ember, a cookware brand, given the ripe opportunity for innovation in this category. Consumers are actively seeking to elevate their kitchen experiences while prioritizing healthier choices.
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Siddharth Gadodia, the founder of Palette Brands, expressed, “There’s a significant gap in the market for cookware that seamlessly blends form and functionality. Ember is poised to address this by offering a non-toxic cookware brand with exceptional non-stick properties.”
Market Opportunity and Consumer Trends
As per a Goldman Sachs Research report, the number of affluent consumers in India is projected to surge from approximately 60 million in 2023 to 100 million by 2027. Palette is strategically catering to this aspirational affluent demographic, characterized by a preference for exceptional product design and value. This encompasses offerings in the mass premium segment across categories with substantial Total Addressable Market (TAM) and notable unmet consumer demands.
Established in 2022 by Siddharth Gadodia, Young Yun, Himanshi Tandon, and Bret Recor, the startup encompasses a drinkware brand, Unbottle, and an Apple accessories brand, Totem, within its portfolio.
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