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India settled, non-alcoholic aerated beverage brand Svami has raised Rs 6.5 crore in bridge round funding from Mumbai Angels Networks & few other investors.
The round led by Mumbai Angels Network (MA) has also was the participation of its existing investors including Rukam Capital Trust, Niren Shah – Managing Director of Norwest Venture Partners, and Ashish Chand’s family office – Yukti Securities.
Speaking on the fundraise, Sahil Jatana, Co-Founder & CEO at Svami said, “We started Svami to create premium aerated beverages that did not exist in the country. Since launch, we have seen massive product acceptance across retail and HoReCa (Hotel/Restaurant/Café) and now we are doubling down on our first-mover advantage with deeper retail presence and a new category launch.”
“Fundraising in the time of covid and an era of zoom calls has had its way of working and we are happy to have Mumbai Angels be a part of our journey,” Sahil added.
Nandini Mansinghka, Co-promoter & CEO, Mumbai Angels Network commented “Non-alcoholic beverage is relatively an uncovered space in India which allows companies to create innovation opportunities. Health-conscious consumers are changing the narrative of this segment and companies have to adjust and accelerate their strategies in this fast-changing landscape. We are happy to have Svami, a progressive drinks company, is making non-alcoholic drinks on their premium platform as a part of our expanding portfolio in the food and beverage sector.”