Home appliances startup Nuuk, co-founded by Gazal Kalra and Shalabh Gupta, is reportedly in discussions to raise around Rs 100 Cr from Wipro Consumer Care Ventures and RPSG Capital Ventures at a proposed valuation of approximately Rs 500 Cr.
The Gurugram-based D2C brand’s latest fundraising discussions could mark a significant step up from its previous Series A round. However, the transaction remains under discussion, and the final investment amount and valuation may change as negotiations progress.
Neither Nuuk nor the two prospective investors had responded to Inc42’s queries at the time of publication. The proposed investment should therefore not be treated as a completed funding round.
Nuuk’s New Fundraise Could Exceed Its Previous Round
The proposed ₹100 crore raise would be larger than Nuuk’s $6.6 million Series A round, which it completed in August 2025 after securing a $2 million extension from existing investors Vertex Ventures SEA and Good Capital.
Founded in 2023, Nuuk has built a portfolio of design-focused home and kitchen appliances. Its products include cordless vacuum cleaners, fans, heaters, garment-care devices, air fryers, juicers and mixer grinders.
The brand sells through its own website and online platforms such as Amazon and Flipkart. It has also expanded to quick commerce through Blinkit and entered offline retail with a store in Delhi NCR.
Gazal Kalra and Shalabh Gupta Target a Wider Appliance Market
Nuuk was founded by Gazal Kalra, who previously co-founded logistics unicorn Rivigo, and Shalabh Gupta, former chief growth officer at consumer electronics brand Noise.
The company designs its products in-house and works with third-party manufacturers. In an earlier interaction with Inc42, Gupta said around 20% of its products were manufactured in India in March 2025, with the company targeting a share of more than 50% by the end of FY26.
Expanding domestic manufacturing could become an important part of Nuuk’s growth strategy as it looks to build a broader product portfolio and strengthen its supply chain.
Revenue Reaches ₹16 Cr in FY25
Nuuk’s operating revenue increased to approximately ₹16 crore in FY25 from ₹31.8 lakh in FY24, according to MCA filings cited by The Unicorn Magazine. FY25 was its first full year of operations.
The company also reported a net loss of ₹39 lakh, compared with ₹7 lakh in FY24. Its expenses increased to ₹16.4 crore from ₹38.8 lakh during the same period.
The reported financials indicate that Nuuk scaled its revenue rapidly in its early operating period, while also increasing spending on inventory, distribution and business expansion.
Investors Show Interest in India's Appliance Brands
The proposed investment comes amid growing investor interest in consumer appliance startups that are building differentiated products and expanding manufacturing and distribution capabilities.
Wipro Consumer Care Ventures invests in consumer-focused businesses across categories including home care, personal care, food and wellness. RPSG Capital Ventures, meanwhile, focuses on consumer brands across food and beverages, personal care and lifestyle.
For Nuuk, the proposed backing could provide capital to expand its product range, strengthen distribution and pursue its domestic manufacturing ambitions. The larger challenge will be converting product-led growth into sustainable scale in a market that includes established brands such as Philips and Bajaj, as well as newer players like Atomberg and Lifelong.
