Mumbai Angels Network, a platform for early-stage investments has participated in Rs 3.11 crore Seed round in Barneys Hard Seltzer along with Ah! Ventures, Chandigarh Angels, and others. Barneys claims to be India’s first zero sugar, low calorie, no-carb hard seltzer with 6 percent alcohol for those who enjoy their beer and wine but also want something easier and not too serious. The funds raised will be utilised in marketing, production and team expansion.
Ruchi Gupta, Founder and CEO of Barneys Hard Seltzer said, “Beverages such as wine, beer, or cocktails have a substantial amount of carbs and added sugar, causing adverse effects. So, we created Barneys to help consumers enjoy a refreshing drink without worrying about long-term effects on their health. We are thrilled to secure funding from distinguished investors and we believe this will give us the much-needed boost in the market.”
Barneys has launched in Goa, where it is headquartered and will be expanding to Karnataka and New Delhi in the next financial quarter.
Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network said, “Barneys is among the first Indian hard seltzers crafted with premium elements and comes at an affordable price. Given the popularity of beer brands entering the market with low-sugar variants, we believe that the freshly infused capital will allow them to widen their consumer base, innovate further, and grow.”
