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Ronin Wines, makers of India’s first mead brand, Moonshine, raises US$2 mn
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Monday, 26 September, 2022, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Ronin Wines, the makers of India’s first meads, Moonshine, has announced that it has raised US$~ 2 million as part of their Pre Series A, to further boost its growth trajectory in the country and beyond. This financing round was led by Anthill Capital and saw participation from Auxano Capital, Supermorpheus and Merisis, as well as existing and new angel investors. Value Bridge Capital was the sole advisor for this transaction.
Mead is the oldest alcohol in the world and made by fermenting honey with various fruits and spices. With the influx of new capital, Ronin Wines aims to deepen Moonshine’s presence in its present markets (Maharashtra, Karnataka, Goa, Uttar Pradesh, Himachal Pradesh, Rajasthan, Assam and Silvassa) and enter new markets like Haryana and West Bengal. The idea is to establish Moonshine firmly as a national brand over the next three years. The said investment will also aid the company in commencing work on export markets.
Rohan Rehani, co-founder, Ronin Wines, said, “With Moonshine, we are trying to plug the flavour gap for consumers as they transition from juices and colas to beers and spirits. A consumer’s journey into alcohol doesn’t have to start with an ‘acquired taste’. This fits well with the expectations of the younger India who are looking for more flavourful beverages.“
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