Companies

NAO Spirits and Beverages raises $2 million in Series A funding

Our Bureau New Delhi | Updated on January 11, 2021 Published on January 11, 2021

Homegrown spirits start-up, Nao Spirits and Beverages has raised $ 2 million in its Series A investment round led by existing investors, family offices and a boutique VC firm.

Founded in 2015, Nao Spirits, which offers premium quality craft gin brands, has raised a total of $ 5 million.

Anand Virmani, Co-Founder & CEO, NAO Spirits and Beverages said, “We have been privileged to enjoy the continued support of the f&b community and consumers alike as they have propelled us along these past few years. It has further been heartening to receive a very tangible vote of confidence from our new and existing investors who have got behind us in this time which has proven to be challenging for most. We are extremely excited to now be able to step into a new chapter with the wind in our sails as we look to realise the true potential of Gin in India and from India.”

The company will use the fund to expand to new states such as Rajasthan, Haryana, Assam, Arunachal Pradesh and Meghalaya along with new export markets. It will also use the funds to amplify its marketing efforts and strengthen its team.

Abhinav Rajput, Chief Operating Officer at NAO Spirits and Beverages added, “The last 24 months have been very positive for the business as we have been able to drive serious volumes across all our markets, the pandemic certainly played its part in impacting the economy, but we continue to look upwards on our growth plans over the next 3-5 years.”

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Published on January 11, 2021
beverage industry
venture capital
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