Funding Alert

Goa Brewing Co raises $700k in funding


The Goa Brewing Company, which is well-known for its well-liked craft brews “People’s Lager” and “Eight Finger Eddie,” has revealed that it has raised $700,000 from notable investors including K Ganesh (serial entrepreneur, promoter of BigBasket, Portea Medical, Bluestone, Homelane), Samrath Bedi (executive director of Forrest Essentials), and other members of Ekcle Ventures (angel network).

The company will be able to enhance production and carry out its objectives for market expansion thanks to this top-up capital round. Early investors were DSG Consumer Partners and Saama Capital Company.

The change can be understood in the context of a considerable increase in demand for craft beer in bottles (for domestic consumption) in India during the outbreak and numerous lockdowns.

Goa Brewing Company founder Suraj Shenai stated, “Unlike the beer manufactured in vast commercial industrial complexes that utilise a variety of synthetic ingredients, we started brewing in tiny and unique batches at our craft brewery in Sangolda, Goa (housed in a historic Indo-Portuguese home). We have continued to make clean-label beers using only whole-natural grains, hops, and fruits, the majority of which are sourced from nearby farms. With only word-of-mouth advertising, our beers have gained a following without any marketing investments or advertising efforts. We have been able to concentrate on the product and push the limits of brewing thanks to the brand love of our ardent patrons while progressively forming a community built on common ideals.

Goa Brewing Co raises $700k in funding

The flagship product in our range, “People’s Lager,” which is made from Goan rice, will satisfy customers looking for alternatives in the premium light beer market. Additionally, beers like “Eight-Finger Eddie,” “Breakfast Cereal,” and “Pineapple Saison” appeal to drinkers looking for more variety and excitement in craft beer. In addition to this, we have a tonne of new beers ready to hit the market. We could initially only supply in Goa and a small number of cases in Bengaluru due to our low capacity, in order to evaluate the market. We had to postpone our expansion plans because of the unpredictability and commotion brought on by the epidemic and the ensuing lockdowns. During this holiday season, we plan to enhance our production capacity, hire key senior professionals for the team, and launch in the Bengaluru and Delhi marketplaces, according to Suraj Shenai.

According to Bonafide Research’s India Beer Industry Outlook 2023 research, the Indian beer market is predicted to expand significantly even as consumers switch from mainstream to premium brands. This will lead to the introduction of fresh craft beer brands that have the potential to take up 10–12% of the market overall and have room to develop, as is the case in markets like the US.

Suraj, with his passion, introduced a revitalising freshness, and artisanal quality, and created a brand in the fiercely competitive Goa market, according to K Ganesh, promoter of Big Basket and one of the investors. We are thrilled to work with him to scale the brands internationally. The future is exciting for GBC with options like “People Lager,” “Eight Finger Eddie,” and many other brews in development. The space of craft beer in massive amounts is gravely underserved.

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