- November 29, 2021 / 7 min readThe funds will be used to expand the reach of the premium cocktail mixer as well as enter the ready-to-drink beverage segment.
Delhi-based non-alcoholic beverage brand Jade Forest has received $1 million in funding round led by Mumbai Angels Network.
As per the release, the brand will utilize the funds to expand its geographical expansion and enter into the Ready-to-drink beverage segment.
“Post COVID the Indian consumer has not only become more health conscious but prefers homegrown products that are transparent with their ingredients and supply chain. We believe the market is massive and ripe for disruption and with Jade Forest we plan to capture the market with regular innovative launches,” said Shuchir Suri, Co-Founder, Jade Forest.
Launched in August 2019 by 2 experienced entrepreneurs in the F&B industry – Shuchir Suri and Punweet Singh, the company has quickly risen to become a front-runner in the beverage space. Currently growing at 15-20% MoM, the brand is redefining how beverages are consumed.
The products are currently priced between Rs. 80 & Rs. 85 for a 250ml glass bottle and are now available in all major metros in the country, taking consolidated presence to over 23 cities pan India.
“Apart from this, we have invested and continue to grow our digital marketing efforts and hope to reach a larger consumer base. We use a combination of digital performance ads, social media content and brand collaborations and tie-ups,” added Singh.
It had previously raised a Seed round of USD 250K in November 2020 and has exceeded all target and milestone expectations since then.
“Today, the younger generation is constantly on the lookout for beverages that are low on sugar and carbs and yet please their taste buds. Jade Forest has managed to capture the attention of thousands of Millennials and Gen-z consumers and has established its presence in 23 cities in 2 years,’ added Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels Network.
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