Bangalore, 31st May, 24: Gramiyaa, a Bangalore-based vertically integrated producer of cold-pressed oils, has successfully raised ₹9.5 Crore in equity and debt infusion. The investment was led by UAE’s Homegrown Ventures and witnessed participation from Mumbai Angels and Campus Fund. This capital will support Gramiyaa’s expansion efforts in the Indian and US markets.
Founded in 2017 by Sibi Manivannan, a third-generation traditional oil-maker, Gramiyaa initially operated offline through brand outlets in Trichy, Tamil Nadu. The company pivoted to an online-first model in 2020, following the addition of co-founders Mohamed Yaseen and Naveen Rajamaran. Gramiyaa now distributes its products through its website and other marketplaces, utilizing micro warehouses in six major cities like Bangalore, Chennai, Hyderabad, Mumbai, Delhi and Pune. Their in-house manufacturing unit in Tamil Nadu and local warehousing model ensure consistent, high-quality products at accessible prices.
Speaking about the investment, Nader Amiri, General partner of Homegrown Ventures said, “The cooking oil industry has seen little innovation or improvement for too long. Consumers, particularly the younger generation, are increasingly skeptical of claims made by established edible oil companies and are looking for brands that are transparent and authentic. We are hugely excited to partner with Gramiyaa and we believe Gramiyaa’s team and their process excellence have the potential to meet the nuanced expectations of consumers not just in India, but globally.”
Additionally, their US FDA and ISO certified manufacturing process allowed the company to export their products early on. Gramiyaa’s wood cold pressed oils are sold in the ethnic Indian stores across the USA.=Mohamed Yaseen, Co-Founder of Gramiyaa commented “Most D2C cold-pressed oil brands white-label products from small scale oil mills to reduce their capital expenditure. This runs the risk of hygiene, adulteration, and inconsistency, which are despised by discerning consumers. Gramiyaa hence prioritises strong vertical integration alongside building a brand that appeals to the new generation”.
In FY24, Gramiyaa produced 2.87 lakh litres of oil and achieved a net revenue of ₹12 Crore while remaining EBITDA profitable. Following the recent funding, the company is setting more ambitious growth targets and plans to intensify its brand-building and marketing efforts.