Beverage brand Jade Forest on Monday said it has raised funding of $ 1 million in a round led by Mumbai Angels Network, a platform for early-stage investments along with other investors. The funds will be used for geographical and product portfolio expansion, it added.

Launched in August 2019 by Shuchir Suri and Punweet Singh, the brand offers low sugar non-alcoholic products such as tonic water, ginger ale and club soda infused with spices, herbs and fruits. It had raised a Seed round of $ 250K in November 2020.

The company sells its products through offline retail channel partners and last-mile delivery platforms as well as through its own e-commerce website and Amazon.

Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels Network, “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 2 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.”

Jade Forest, Co-founder Punweet Singh said that the brand plans to expand its portfolio of drinks into different verticals as well as venture into the export market in the coming years.

“Post COVID the Indian consumer has not only become more health-conscious but prefers homegrown products that are transparent with their ingredients and supply chain. We believe the market is massive and ripe for disruption and with Jade Forest, we plan to capture the market with regular innovative launches,” added Shuchir Suri, Co-Founder Jade Forest.

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