A $2 million pre-series A investment round headed by Anthill Capitaland was completed by Ronin Wines, which sells mead under the Moonshine Meadery brand.
Supermorpheus, Merisis, and Auxano Capital also took part in the round. Both current and new angel investors took part in the mop-up. The only consultant for the deal was Value Bridge Capital.
By strengthening Moonshine’s presence in its current markets, including Maharashtra, Karnataka, Goa, Uttar Pradesh, Himachal Pradesh, Rajasthan, Assam, and Silvassa, Ronin Wines intends to accelerate its growth trajectory in the nation. The business also intends to investigate untapped markets like West Bengal and Haryana.
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“With Moonshine, we are trying to plug the flavour gap for consumers as they transition from juices and colas to beers and spirits. A consumer’s journey into alcohol doesn’t have to start with an ‘acquired taste’. This fits well with the expectations of the younger India who are looking for more flavourful beverages,” said Rohan Rehani, co-founder, Ronin Wines.
“We have been steadily garnering interest from importers in various geographies. And now, this fundraise will enable us to unlock opportunities not only at the national but also at the international level,” he added.
Rehani and Nitin Vishwas founded Ronin Wines, which introduced Moonshine in 2016 to revive the ancient alcoholic beverage.
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Conceptualised in 2016, Moonshine was established with the single objective of introducing a easy drinking beverage using the finest ingredients and latest brewing technology.