Liquor startup boutique Spirit Brands collects Rs 80 crore, Retail News, ET Retail

New Delhi: Spirits startup boutique Spirit Brands announced Thursday that it had raised Rs 80 crore through a combination of equity and debt. TradeCred, IIFL Private Equity, Anicut Angel Fund, Kae Capital and investors such as Narendra Madhusudan Murkumbi and Vikramaditya Mohan Thapar Family Trust participated in the financing round, the company said in a statement.

“The investment will help bring new products to market, grow and expand retail presence and services to customers across India,” she added.

TradeCred, India’s largest alternative debt platform, came into play with Rs 60 billion as a debt partner.

Established in 2016, Boutique Spirit Brands (BSB) is a multi-category spirits brand specializing in the manufacture of branded alcoholic beverages in India.

“The investment comes at a time when we have big plans to bring premium spirits nationwide. The completion of the financing in such a short time is proof that investors see a lot of potential in our company and have confidence. “In our team and the belief in our expansion vision,” said Rahul Gagerna, founder and CEO of Boutique Spirit Brands.

Boutique Spirit previously raised Rs 6.8 billion in seed funding from KAE Capital in 2018.