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Startup Deep Dive : Okhai — the crafts brand with no funding round and no valuation

The Invincible India Startup Deep Dive featured graphic for Okhai.

Okhai has never announced a funding round, never disclosed a valuation, and is not, in any legal sense, a startup — it is a trust. Yet in the seven months between March and October 2020, the number of rural women artisans actively selling through its platform went from 2,300 to 16,000, a scale-up most venture-backed marketplaces would call a breakout year, and one that Okhai itself says produced 67% annual growth in FY20.

The contradiction is the story. A brand built inside a corporate social-responsibility trust out-executed a crisis that broke the supply chains of far better-funded competitors. Two decades before that, its origin was not a garage or a hackathon but a drought that wiped out farm income for tribal and pastoral women in a corner of coastal Gujarat that most of India cannot place on a map: Okhamandal.

Quick facts

Company Okhai, a brand of the Okhai Centre for Empowerment trust
Founded 1995 survey that led to the initiative; branded Okhai in 2002; registered as a trust in 2008
Founder(s) Ramiben, an appliqué artisan from Arambhada village, with the Tata Chemicals Society for Rural Development (TCSRD)
Businesses Marketplace and brand for handcrafted apparel, home décor and accessories made by rural women artisans
Latest disclosed FY revenue Approximately ₹2.3 crore ($239,600 at $1 ≈ ₹96.0) in FY2016-17 — no absolute revenue figure has been disclosed since
Latest FY profit/loss Not disclosed; Okhai is structured as a trust that reinvests surplus rather than distributing profit
Listed Not listed. Parent Tata Chemicals Ltd is listed (NSE: TATACHEM, BSE: 500770)
Market value / last valuation Not applicable — no external funding round or market valuation has been reported
Key people Manorath Dhillon, CEO and creative director; Kirti Poonia led Okhai full-time from 2015 through its 2020 pandemic pivot

What they do

Okhai sells handcrafted apparel, home décor and accessories made by rural women artisans, to urban and increasingly online Indian shoppers who want ethically produced, artisanal products with a documented social story attached to each piece. The catalogue runs from kurtas, dupattas, stoles and hand-embroidered sarees to cushion covers, jewellery, jute bags and home linen, produced across more than 15 craft traditions — Rabari and Aari embroidery, mirror work, block printing, Kalamkari, Madhubani painting, Chikankari, Dokra metalwork, macramé, silver filigree, basket weaving and jute craft among them, sourced from artisan clusters spanning more than 20 Indian states.

The origin

The insight behind Okhai was not a market gap; it was a survival response. A multi-year drought through the 1990s devastated farming income across the Okhamandal region of Saurashtra, Gujarat, near Tata Chemicals’ Mithapur plant. In 1995, a team from the Tata Chemicals Society for Rural Development surveyed 42 villages around that plant, looking for alternative livelihoods for women from tribal and pastoral communities who had lost their agricultural income. What they found was a craft already in every household: intricate Rabari and appliqué embroidery, practised for generations but never sold beyond the community. Ramiben, an artisan from Arambhada village, is credited with mobilising the first group of women to turn that craft into a saleable product, with TCSRD providing training, design input and a route to market. The programme ran informally for years before it was given a name in 2002 — Okhai, after the region itself — and a formal legal structure in 2008, when it was registered as the Okhai Centre for Empowerment, a trust with artisans as its members.

The struggle years

Okhai’s early years were built on the same fragility that created it. Its first retail outlet did not open until 6 years after the founding survey — a store inside Himalaya Mall in Ahmedabad, inaugurated on 4 July 2008, the same year the trust was formalised — meaning the collective sold through local markets, exhibitions and word of mouth for over a decade before it had a single storefront. Growth in that period was arithmetic, not exponential: the collective grew from roughly 350 to 500 women at its 2002 start (accounts differ on the exact figure) to around 900 artisans by the mid-2010s, and revenue is estimated to have only reached about ₹1.15 crore in FY2014-15, doubling to ₹2.3 crore by FY2016-17 — tiny numbers for an initiative that by then spanned three states.

The second, sharper crisis arrived with COVID-19. Okhai’s artisans had built their livelihoods around supplying physical retail stores and exhibitions with a steady, if modest, order flow; the March 2020 lockdown erased that channel overnight. The number of artisans actively transacting through Okhai’s own platform fell to roughly 2,300 — a shrinkage, not the growth the brand talks about publicly today. On the occasion of the International Day of Rural Women in October 2020, Okhai launched a dedicated helpline (registered on WhatsApp) so artisans in remote regions could report unsold stock, group size and location, and be routed to new buyers, a response to what Kirti Poonia, then head of Okhai, described as a need to “safeguard the talented and skilled artisans in all forms of art” during the pandemic.

The turning point

The pivot that followed is the closest thing Okhai has to a single defining event. In early 2020, as the pandemic shut down physical retail, Okhai converted itself from a product-led brand that manufactured and stocked its own inventory into a marketplace running on a dropship model, onboarding new artisan groups directly onto its platform rather than routing everything through its own warehouse. The company added roughly one new artisan group every week through the rest of that year, taking the total to 85 new groups onboarded within twelve months.

The money behind it

Okhai has no capitalisation table because it has never sold equity. Its only institutional backer, across its entire history, is its own parent: the Tata Chemicals Society for Rural Development, the CSR arm that Tata Chemicals Ltd has run since 1980. TCSRD does not invest in Okhai in exchange for ownership or returns; it funds a livelihood programme, and any commercial surplus the trust generates is reinvested in artisan wages, training and design rather than distributed to shareholders.

How it makes money

Money comes in from three channels: direct sales on okhai.org, Okhai’s own flagship store in Mumbai’s Kala Ghoda, and listings on third-party marketplaces and stockists including Tata CLiQ, Myntra, Jaypore, Amazon and Nykaa. Online sales make up the large majority of the mix — about 90% of total sales, per a 2023 account of the business.

The numbers

Okhai does not publish standard annual revenue and profit-and-loss statements the way a company would. The figures below are the only ones found in public reporting, and the gaps are real — not omissions.

Financial year Revenue (₹ crore) Profit / loss
FY2014-15 ~1.15 (implied, as half of the FY2016-17 figure) Not disclosed
FY2016-17 ~2.3 Not disclosed
FY2019-20 Not disclosed (67% year-on-year growth reported) Not disclosed
FY2020-21 Not disclosed (68% year-on-year growth reported by a separate account) Not disclosed

Where the money comes from

Okhai’s business splits along three lines: channel, geography of production, and craft category. The surprise is how concentrated the physical retail footprint still is despite the scale of the artisan network behind it.

The risks

The takeaway

Okhai’s real lesson is not about crafts or CSR specifically; it is about what happens when an organisation scales its headcount and its mission faster than it scales its financial disclosure and commercial infrastructure. A network that grew from roughly 2,300 to more than 16,000 active artisans in seven months, and is now described as 25,000 to 30,000 strong, has clearly solved for reach. What is harder to find in the public record is a matching scale-up in revenue reporting, margin discipline or store footprint — the boring plumbing that turns a good mission into a durable business. For any founder building something with a social mission at its core, the transferable point is this: growth in the number of people you serve is not the same evidence of health as growth in what the business actually earns and discloses, and the gap between the two eventually has to be answered, one way or another.

Frequently asked questions

Is Okhai a startup or a nonprofit?

Neither in the conventional sense. Okhai is a brand run by the Okhai Centre for Empowerment, a trust registered in 2008 under the Tata Chemicals Society for Rural Development. It operates a real e-commerce and retail business but reinvests any surplus rather than distributing profit or raising equity capital.

Who owns or controls Okhai?

Okhai sits under the Tata Chemicals Society for Rural Development, the CSR arm of listed company Tata Chemicals Ltd (NSE: TATACHEM). There are no external shareholders or investors.

How many artisans does Okhai work with?

The number has grown sharply and is reported differently across periods: about 900 in the mid-2010s, roughly 2,300 in March 2020, about 16,000 by October 2020, and 25,000 to 30,000 across more than 15 crafts and 20-plus states in accounts published between 2023 and the present.

Has Okhai raised venture funding or reached a valuation?

No public record found in this research shows Okhai raising external funding or being assigned a market valuation. Its only backer is its own parent CSR trust, and no valuation, reported or otherwise, appears in available sources.

Where can you buy Okhai products?

Directly at okhai.org, at its single physical store in Mumbai’s Kala Ghoda district (opened October 2020), and through marketplace listings on Tata CLiQ, Myntra, Jaypore, Amazon and Nykaa.

Sources

Figures are as of September 2026. Currency converted at $1 ≈ ₹96.0 as of 18 September 2026 (Trading Economics).

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