Saturday, October 1, 2022
HomeInsightFunding Alert Jade Forest raises $1 mn led by Mumbai Angels Network

[Funding alert] Jade Forest raises $1 mn led by Mumbai Angels Network

[Funding alert] Jade Forest raises $1 mn led by Mumbai Angels Network

Non-alcoholic beverage brand Jade Forest has raised $1 million in a funding round from Mumbai Angels Network.

The startup plans to use the funds for further geographical expansion and launch in the ready-to-drink beverage segment.

Founded in 2019 by Shuchir Suri and Punweet Singh, It is currently growing at the rate of 15-20 per cent MoM (month-on-month).

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By creating a range of drinks that are low in calories and sugar without the use of any artificial ingredients, the company says it was able to reach a larger audience, especially during the pandemic, which saw a sudden positive shift towards home consumption of the drink.

Currently, its products are priced between Rs 80 to Rs 85 for a 250 ml glass bottle, and are now available in all major metros of the country, with a consolidated presence in over 23 cities across India.

“Apart from this, we have invested and continue to grow our digital marketing efforts and hope to reach a larger consumer base. We use a combination of digital performance ads, social media content, and brand collaborations and tie-ups”, said, Co-founder Punweet Singh.

The company plans to expand its portfolio of beverages into various verticals as well as venture into the export market in the coming years.

Also read – [Funding alert] Web3 startup DAOLens raises $5 mn in a Pre-Seed round

“Today, the younger generation is constantly on the lookout for beverages that are low on sugar and carbs and yet please their taste buds. Jade Forest has managed to capture the attention of thousands of millennials and Gen Z consumers, and has established its presence in 23 cities in two years. This funding is a testament to the brand’s remarkable growth and progress. We believe that the fresh capital will allow them to achieve their goals, and further scale the business”, said, Nandini Mansinghka, Co-founder and CEO of Mumbai Angels Network.

In November 2020, Jade Forest had raised $250,000 in seed funding round.

About Jade Forest

Jade Forest is a premium beverage company. Their goal is to democratize quality drinking experiences. They provide great-tasting beverages using honest and high-quality ingredients. Their low-calorie, low-sugar options allow you to indulge without guilt.



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