New Delhi, November 2021: Jade Forest, one of India’s finest non-alcoholic beverage brands, has raised a funding of 1 million USD in a round led by Mumbai Angels Network, a premium platform for early-stage investments along with other investors. The funds will be utilized towards further geographical expansion and launch into the Ready-to-drink beverage segment. 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. By successfully creating a range of great-tasting drinks that are low in calories and sugar without the use of any artificial ingredients, the brand was able to reach a larger audience, especially through the pandemic, which witnessed a sudden positive shift towards homegrown consumption of beverages. Consumers became a lot more aware of the ingredients that were listed on the backs of product labels and the need for “better-you-drinks” was what propelled overall sales. 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.
The company has previously raised a Seed round of USD 250K in November 2020 and has exceeded all target and milestone expectations since then. An omnichannel sales approach; they sell through a number of offline retail channel partners and last-mile delivery platforms as well as through their own e-commerce website and Amazon. The brand has achieved strong organic growth and sales through a combination of an attractive product design and clear communication, along with a heavy emphasis on the correct product placement at all points of sales. |
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