The funds raised will be utilised in marketing, production and team expansion.
Mumbai Angels Network, a premium platform for early-stage investments has participated in INR 3.11Cr seed round in Barneys Hard Seltzer along with Ah! Ventures, Chandigarh Angels, and others. Barneys is India’s first zero sugar, low calorie, no-carb hard seltzer with 6% alcohol for those who enjoy their beer and wine but also want something easier and not too serious. The funds raised will be utilised in marketing, production and team expansion.
“Barneys is among the first Indian hard seltzers crafted with premium elements and comes at an affordable price. Given the popularity of beer brands entering the market with low-sugar variants, we believe that the freshly infused capital will allow them to widen their consumer base, innovate further, and grow,” added Nandini Mansinghka, Co-Founder & CEO – Mumbai Angels Network.
Ruchi Gupta, Founder, and CEO of Barneys Hard Seltzer said, “Beverages such as wine, beer, or cocktails have a substantial amount of carbs and added sugar, causing adverse effects. So, we created Barneys to help consumers enjoy a refreshing drink without worrying about long-term effects on their health. We are thrilled to secure funding from distinguished investors and we believe this will give us the much-needed boost in the market.”
Source: Business World