Svami, a Mumbai-based FMCG startup that sells non-alcoholic aerated beverages, has raised Rs 6.5 crore in a bridge round leading up to a Series A round. It was led by Mumbai Angels Network, with participation from current investors including Rukam Capital Trust; Niren Shah, Managing Director of Norwest Venture Partners; and Ashish Chand’s family office — Yukti Securities.
The startup plans to use the newly-raised funds to penetrate deeper into existing geographies and grow into newer cities in India and to launch a ready-to-drink product line.
Founded by Sahil Jatana, Rahul Mehra, and Aneesh Bhasin, Svami claims to be the only brand in the country to have 100 percent R&D and manufacturing in-house.
During the lockdown, the consumer startup launched ‘3 Calorie Tonic Water’ with a D2C approach, which quickly became a success. During the lockdown, Svami took a number of measures to sustain the situation and at the same time, make a most of the difficult conditions.
Svami’s beverage portfolio is available at select retail outlets, wine shops, and leading restaurants-bars and is now available in eight states in India (including Delhi-NCR, Mumbai, Bengaluru, Goa, and Pune) and two international markets, with over 900 touchpoints.
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