Optimistic Meals Ventures Pvt Ltd, which owns and operates Brewhouse Tea Brewing Co, has raised an undisclosed sum as a part of its pre-Collection A fundraising spherical, it mentioned on Tuesday.
The spherical in Delhi-based Brewhouse has been led by startup incubator and accelerator Enterprise Catalysts. Different individuals within the fundraise embody SN Khurana, a Chandigarh-based businessman.
Brewhouse was arrange in 2015 by Siddharth Jain. Per his LinkedIn profile, Jain is an alumnus of the Indian Institute of Administration-Calcutta and has labored with organisations together with BNP Paribas Singapore, DBS Financial institution, and Aon Hewitt.
The corporate says it goals to advertise wholesome, inexpensive and naturally brewed drinks that may be consumed frequently with out hostile well being results. To this finish, the startup says it sources natural and pesticide-free tea leaves, that are then brewed at its personal facility exterior Delhi.
Brewhouse’s merchandise embody a number of flavours of iced tea, together with Forest Berry, Mojito Lime, Lemon, and Peach. In a press release, Jain mentioned the corporate will use the capital it has raised to launch an prolonged vary of stock-keeping items and market-relevant merchandise.
“We’re additionally seeing a wholesome pickup in on-line gross sales and that makes us additional optimistic about our future endeavours,” he added.
Individually, Enterprise Catalysts co-founder and president Apoorva Ranjan Sharma mentioned the incubator-accelerator was assured in its funding due to Brewhouse’s potential to create its personal area of interest in India’s iced tea market.
“With a visual change in peoples’ consuming habits, it’s protected to say that the demand for natural meals and drinks—particularly tea—will improve and see a really devoted fan following within the coming years,” Sharma mentioned.
Aside from on-line channels that embody its personal direct-to-consumer presence, Brewhouse says its merchandise have a presence in cinema and lodge chains together with INOX, Carnival, Taj, and ITC.
The funding marks the most recent startup guess by Enterprise Catalysts, which additionally operates an funding automobile – the 9Unicorns Accelerator Fund – that hit its first shut at Rs 100 crore (round $13.7 million) in September.
The incubator and accelerator was arrange in 2015 by Sharma, Anuj Golecha, Anil Jain and Gaurav Jain. It invests between $250,000 and $1.5 million in early-stage startups and gives networking alternatives and mentoring to its portfolio firms.
A few of its current investments embody worker service desk platform Rezolve.ai, retail-technology startup Gully Community, electrical automobile charging companies startup Cost+Zone and business-to-business healthcare product distribution platform Biddano.