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Jade Forest raises $250,000 seed investment to surge growth
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Friday, 13 November, 2020, 15 : 00 PM [IST]
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Our Bureau, New Delhi
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Delhi based premium beverage and mixers brand Jade Forest has raised $250,000 in seed funding from prominent angels across India. Accelerated by Gurugram based Huddle, the venture growing steadily at 20 per cent month on month recently raised investment from marquee investors like Gaurav Kapur, Rohan Abbas, Ashish Tulsian, and Angel List India among others.
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. All their products are manufactured at a U.S. FDA certified facility, which ensures quality, consistency and safety.
Shuchir Suri, co-founder, Jade Forest, said, “Our love for this space alongside the potential to cause disruption in the mixers space in the Indian diaspora propelled us to launch Jade Forest. We believe that Indian homegrown brands can accomplish massive outcomes in the next 5 to 10 years if their vision is aligned with the Indian consumer’s needs.”
Sanil Sachar, founding partner, Huddle, said, “Jade Forest is successfully growing with a dynamic e-commerce presence, which has been backed by their exquisite product taste and two second time founders in the food and beverage space who have leveraged their experience to build a leading presence across omni-channels including strong retail presence, and being widely consumed by HORECA clients, like Olive Group, Piano Man, Dear Donna. 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.”
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.”
With the current fundraise, the brand plans to build a robust e-commerce presence, enter newer geographies with a selection of products across novel product lines.
Ashish Tulsian, founder, Posist, said, “With millennials graduating to experimenting with alcohol, the Indian scene is rapidly evolving & 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.”
The fundraise will also be utilised towards increased marketing budgets and a stronger sales force, in order to capture a $3000 Mn market of beverages which is growing at 16 per cent year on year.
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