Ginglani Distillers launches its brands in the Delhi market
- ByStartupStory | March 2, 2022
Supermorpheus, Eagle10 Ventures (through LV Angel Fund), and Grand Anicut Angel Fund led a pre-series A round of funding for Ginglani Distillers, an Indian whisky firm.
Startup founders Nitin Kaushal and Chakradhar Gade (Country Delight), Rohan Mirchandani and Epigamia Founding Team, Prashant Pansare (Business Head India & MEA, Airmeet), Mohit Srivastava (Ex-MD Airbnb India), and Sameer Guglani (co-founder, Supermorpheus) were among those who participated in the round.
Ginglani Distillers, the creator of Black Bow whisky, has introduced its brands in the Delhi market, promises to enhance its core team, and ramp up its marketing operations both in-store and on social media, thanks to the influx of funds.
The drink is manufactured in Solan, Himachal Pradesh, with freshwater sources and five-year-old malts, according to the Delhi-based company. ‘Woodsmen’ whisky is also produced by the company. They want to end FY 2022 with a $3 million ARR, and they’re getting ready to enter the Chandigarh and Mumbai sectors.
According to ICRIER, India’s whiskey market was valued at $52.5 billion in July 2021, and it is dominated by long-established brands that debuted in the early 1990s.
With an estimated market size of $52.5 billion in 2020, India is one of the fastest-growing alcoholic beverage markets in the world, with a CAGR of 6.8% expected between 2020 and 2023. According to the Ministry of Food Processing Industries, alcoholic beverage output surged by roughly 23.8 percent in the country.
The output of alcoholic drinks in the country climbed by around 23.8 percent between 2015-16 and 2018-19, according to the Ministry of Food Processing Industries.
According to an ICRIER research titled Developing Principles for Regulation and Pricing of the Alcohol Beverage Sector in India, starting July 2021, the alcoholic beverages industry employs over 1.5 million people in India and generates around $48.8 billion in sales revenue.
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