Boutique Spirit Brands, a liquor startup, announced on Thursday that it has raised Rs 80 crore in equity and debt capital from investors like as IIFL, Anicut Angel Fund, Kae Capital, and TradeCred.
The company will use the newest round of funding to launch new products, scale up, increase its retail presence, and serve more customers across the country, according to the company.
Founder of Shree Renuka Sugars Narendra Madhusudan Murkumbi and Indian City Properties’ Vikramaditya Mohan Thapar were among the investors in the round.
“The passion and vision of the founders in revolutionising the premium beverage segment in India with the best of brand offerings, world-class manufacturing processes, and giving customer satisfaction a priority is what excited Anicut to back the team in their journey,” said Ashvin Chadha, Co-founder of Anicut Angel Fund, in a statement.
“The investment comes at a time when we have big plans of launching premium spirits all over the country,” Rahul Gagerna, Co-founder of Boutique Spirit Brands, said in the press note. He was previously the chief of marketing at Radico Khaitan, a distillery that produces products like Magic Moments vodka, Jaisalmer gin, and Morpheus brandy.