Delhi-based premium beverage and mixers brand Jade Forest on has raised $250,000 in seed funding round led by marquee angels across India, including Gaurav Kapur, Rohan Abbas, Ashish Tulsian, and Angel List India, among others.
Jade Forest was founded by Shuchir Suri and Punweet Singh. The startup claims to witness steady growth at 20 percent month on month. With five flavours in its product mix, Jade Forest has established itself across the product categories of low-sugar tonic waters, ginger ale, and soda.
Punweet Singh, Co-founder, Jade Forest said, “Since COVID-19, we’ve been fortunate enough to expand our reach through multiple online channels and continue to grow the business significantly. We’re excited about 2021 and the opportunity to define and lead the growth in the non-alcoholic beverage space.”
Shuchir Suri, Co-founder, Jade Forest said, “We believe that Indian homegrown brands can accomplish massive outcomes in the next five to ten years if their vision is aligned with the Indian consumer’s needs.”
Huddle Founding Partner Sanil Sachar said, “Our focus as their accelerator has been to create a brand that caters towards every sip of beverage our consumer will take. To do this as a team, we will continue to focus on taste, understanding our customers’ demands, and being present before they need us, to continue building a beverage brand for the future.”
Ashish Tulsian, Founder, Posist, said, “With millennials graduating to experimenting with alcohol, the Indian scene is rapidly evolving and growing. Shuchir, and the team, in my opinion, are most well-placed to take this opportunity to lead it from the front with Jade Forest. What they are doing with mixers is the tip of the iceberg.”
Jade Forest will use the funding to increase marketing budgets and a stronger sales force to capture a $3,000 million market of beverages. It plans to build a robust ecommerce presence and enter newer geographies with a selection of novel products.