Beverage company Jade Forest raises $1 million funding from Mumbai Angels Network
- ByStartupStory | June 17, 2022
Jade Forest, a non-alcoholic beverage company, has received $1 million in investment from Mumbai Angels Network. The fund will be used to expand geographically and launch in the ready-to-drink beverage market, according to the company.
It was founded by Shuchir Suri and Punweet Singh in 2019 and is now developing at a pace of 15-20% MoM (month-on-month). The firm claims it was able to attract a bigger audience by establishing a selection of beverages that are low in calories and sugar and do not include any artificial components, especially during the pandemic, when there was a dramatic favourable change towards home use of the drink.
Its goods are currently priced between Rs 80 and Rs 85 for a 250 ml glass bottle, and are now accessible in all major Indian metros, with a consolidated presence in over 23 cities. In the following years, the firm intends to diversify its beverage portfolio into other verticals and enter the export market.
Punweet Singh, co-founder said that the company has invested in and are continuing to expand its digital marketing efforts in the hopes of reaching a broader audience. And also mentioned that the company will utilise a combination of digital performance advertisements, social media content, and brand partnerships and tie-ups. In the following years, the firm intends to diversify its beverage portfolio into other verticals and enter the export market.
Nandini Mansinghka, Co-founder and CEO of Mumbai Angels Network stated that today’s youth are continuously on the search for beverages that are minimal in sugar and carbohydrates while yet pleasing to their palates. In just two years, Jade Forest has attracted the attention of thousands of millennials and Gen Z customers, establishing a presence in 23 locations. The brand’s exceptional development and achievement has resulted in this funding. The firm feels that the additional funding would enable them to meet their objectives and expand their business.
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