fbpx
HomeFinances and DealsBeverage Startup Ronin Wines raises $2 Mn led by Anthill to expand...

Beverage Startup Ronin Wines raises $2 Mn led by Anthill to expand geographical presence

restaurants for father's day

Dads deserve the best: How Father’s Day is taking India by storm with unique...

0
Father's Day, once a relatively low-key affair in India, is now gaining significant prominence, and the hospitality industry is leading the charge in making...
Namaskara

Namaskara Meals unveils six Gurgaon outlets, plans to expand to 20 locations

0
Namaskara, the latest addition to India's vibrant street food culture, has launched its operations in Gurgaon with six locations, aiming to redefine the everyday...

Moonshine alcoholic beverage company Ronin Wines has raised around $2 million in its ongoing Pre-Series A round led by Anthill Ventures. Auxano Capital, Supermorpheus, Merisis and existing and new angel investors also participated in the funding round. 

Ronin Wines will use the funds to expand its product – Moonshine Meadery in existing markets including Maharashtra, Karnataka, Goa, Uttar Pradesh, Himachal Pradesh, Rajasthan, Assam and Silvassa. In addition, it will deploy funds to enter new markets including Haryana and West Bengal as well as export its products to international markets.

Founded in 2016 by Rohan Rehani and Nitin Vishwas, Pune-based Ronin Wines produces homemade meads. To make its Moonshine Meadery sub-brand, the startup uses a host of ingredients, including multi-flower honey, orange blossom honey, coffee beans, guava, apples, chilli peppers and kaffir lime, according to the statement.

Rohan Rehani, Co-founder of Ronin Wines, said, “With Moonshine, we’re trying to fill a taste gap for consumers as they move from juices and colas to beer and spirits. After we won at IWSC, we got interest from importers from all over the world. The current increase in funding will enable us to unlock opportunities not only nationally but also internationally.”

Ronin Wines added, “It launched a strong Portside mead in 2021 and is considering entering the high ABV (alcohol volume) still mead segment later this year (2022).”

Prasad Vanga, Partner at Anthill Ventures, said, “Meads are an exciting, fast-growing category for Alco-Bev. Ronin has created an eclectic brand of mead that is already seeing excellent market traction from discerning consumers looking for new flavours and tastes. Anthill Ventures is delighted to be a lead partner in Ronin’s journey.” 

According to the statement, most Indian meads are low in alcohol by volume (ABV) and carbonated. Additionally, it often faces competition from the premium beer and RTD segments, which are worth around $5 billion in 2020.

In the mead segment, a subsector of the alcohol industry, Ronin Wines faces competition from Cerana Meads, Portside Mead and Arka Rose, among others.

According to the report, the global mead beverage industry, which was pegged at USD 432.4 million in 2020, is likely to become a market valued at USD 1,621 billion by 2028. The industry will expand at a CAGR of 18.71% during 2021-2028.

Latest articles

Tim Hortons expands Dream Cookie lineup with Oreo Double Stuff and Caramilk flavors, introduces new Filled Ring Doughnuts

Tim Hortons, the Canad͏ian co͏f͏feehouse chai͏n, has broadened its assort͏ment of Dream Cookies by...

The Gym Kitchen enters instant noodles category with high-protein options

The Gym Kitchen, a UK brand known fo͏r its high-pr͏o͏tein m͏eals͏, has launched a...

Delhivery and Xpressbees eye quick commerce entry amid surging demand

Logistics startups Delhivery and Xpressbees are reportedly expanding ͏their servi͏ces beyond catering s͏ole͏ly...

British supermarket chain Tesco’s retail sales soar 3.4% in Q1 FY 2024/25

Tesco,͏ the Brit͏ish supermarket ch͏ain, has ͏repo͏rted a 3.͏4% growth in reta͏il s͏ales͏ to...

Related Articles

Marico reports strong Q4 profits despite sluggish sales growth

Despite a slight growth in revenue, Marico's consolidated net profit for the quarter ending...

Catalina Crunch appoints Doug Behrens as CEO to drive next phase of growth

D2C healthy snacks brand, Catalina Crunch, has appointed Doug Behrens as Chief Executive Officer...

Craving a late-night bite? Check out these 6 delicious delivery options to satisfy your hunger

Late-night cravings are a universal experience, and sometimes, nothing hits the spot quite like...
× Drop a, Hi?