Startup Palette Brands raises around $2 million led by Rockstud Capital

Palette Brands, a consumer goods company, raised close to $2 million in a pre-series A round of funding led by Rockstud Capital, the company said in a press statement on June 12.

In the fresh round, investors like Inflection Point Ventures (IPV) and Dholakia Ventures, along with angel investors like Stoffer Anko Norden and Apurva Salapuria also participated in the round.

Earlier known as White.Inc., the startup focuses on building aspirational brands across high-growth verticals.

The startup plans to use the funding towards launching the cookware brand ‘Ember’, a non-toxic product inspired by vibrant Indian lifestyle and modern décor.

Founded in 2022, Palette is building for the aspirational affluent consumer who seeks a great product design with value drawing from a Goldman Sachs Research report which has projected an increase of affluent consumers in India to 100 million by 2027, according to the press release.

Commenting on the investment, Ivy Chin, partner at IPV, said, "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."

IPV also boasts of over 14,000 high-net-worth individuals and professionals to together invest in startups and provide them with monetary and experiential capital.

Rockstud Capital is an alternative investment fund (AIF) registered with Sebi which focuses on sustainability, fintech, healthtech, and consumption, as its key areas of investment.

"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," said Siddharth Gadodia, founder of Palette.

Palette claims to pitch its brands toward product innovation through high-performance materials, design aesthetics, superior functionality, and value-for-money pricing.

Its current brands include ‘Unbottle’, which is a reusable and sustainable drinkware product, and ‘Totem’, which creates accessories exclusively for the growing Apple consumer base in India.

Palette has also entered an exclusive partnership with Box Clever, a design studio, reflecting their shared dedication to innovation, quality, and making a difference in our customers' lives, the press release read.