Liquor startup Boutique Spirit Brands on Thursday said it has raised Rs 80 crore through a combination of equity and debt. The funding round saw participation from TradeCred, IIFL Private Equity, Anicut Angel Fund, Kae capital and investors like Narendra Madhusudan Murkumbi and Vikramaditya Mohan Thapar Family Trust, the company said in a statement.
The investment will help to launch new products, scale-up and expand retail footprint as well services to customers across India, it added. TradeCred, India’s largest Alternate Debt platform, came in as a debt partner with Rs 60 crore. Incorporated in 2016, Boutique Spirit Brands (BSB) is a multi-category spirits brand that specialises in manufacturing branded alcoholic beverages in India.
The investment comes at a time when we have big plans of launching premium spirits all over the country. The funding getting closed in such a short span is the testimony of the fact that the investors see a lot of potential in our company and have faith in our team and belief in our vision of expansion, Boutique Spirit Brands Founder & CEO Rahul Gagerna said. Boutique Spirit had earlier raised Rs 6.8 crore in seed funding from KAE Capital in 2018.