Nao Spirits and Beverages raises USD 2 mn
Nao Spirits and Beverages raises USD 2 mn
NEW DELHI, Jan 11: Nao Spirits and Beverages on Monday said it has raised USD 2 million (around Rs 15 crore) in a funding round led by existing investors, family offices and a boutique VC firm.
The company which is into premium craft gin space has now raised a total of USD 5 million (over Rs 35 crore) since inception in 2015.
The company however did not disclose the investors of this funding round.
The fresh Series A investment is expected to be utilized for expanding to new markets in India in states like Rajasthan, Haryana, Assam, Arunachal Pradesh and Meghalaya along with new export markets, the company said in a statement.