Indian whiskey company Woodsmen Mountain Whiskey has raised $1.5 million in a Series A investment round led by FinFirst Group and Anthill Ventures, with participation from both new and returning investors.
Among them are Nikhil Vora of Sixth Sense Ventures, Shantanu Deshpande, the founder of Bombay Shaving Co., and Chaitanya Rathi, the former COO of Sula Vineyards. Notably, the parent business Ginglani Distillers’ core team took part in the Series A round as well.
extending its market reach
The firm claims that it will utilize the money it has raised to strengthen its team, launch new products—including a line of single malt beverages—expand its market reach, and intensify its marketing efforts. The business wants to carve out a distinct niche for the brand while navigating the highly competitive Indian alcoholic drink market.
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Differentiating from other brands
Established by Shivam Ginglani, Woodsmen Mountain Whiskey sets itself apart with its “Mountain Whiskey” posture centered around its Himalayan origins. The firm claimed that drinkers in the millennial and Gen Z generations have responded well to its USP, which emphasizes authenticity, quality, and inventive storytelling.
The brand reports 400% growth in FY23 and over 2 million bottles sold this year alone.
Additionally, some executives of Woodsmen Mountain Whiskey and Country Delight cofounders Nitin Kaushal and Chakradhar Gade contributed to the Series A round as existing investors.
With the additional funding, the firm plans to grow its staff, launch new goods like a single malt line, broaden its market, and increase marketing expenditures.
Giants like Diageo, Pernod Ricard, and Bacardi are competitors of Woodsmen Mountain Whiskey in the rapidly expanding Indian alcoholic beverage sector. In addition to attracting the interest of investors, this growing business has given rise to other entrepreneurs.
The Japanese company Kirin’s Holdings, MUFG Bank, Sofina Ventures, Peak XV Partners, and Indian craft beer startup Bira 91 are among the investors. From INR 718.8 Cr in the previous fiscal year to INR 824.3 Cr in FY23, its operating revenue increased by 15%.
Double the rate of expansion in finances
With plans to greatly boost sales and surpass Rs. 100 crore in gross annual recurring revenue (ARR), the brand hopes to become a major whiskey brand in India. Woodsmen Mountain Whiskey is aiming to use traditional and digital marketing techniques to enhance brand visibility and penetrate new markets in order to accomplish this goal.
Investor and former COO of Sula Vineyards Chaitanya Rathi stated, “while an experienced industry veteran, I have been mentoring Shivam while he builds his whiskey firm from the ground up. Shivam’s distinctive Himalayan origin-led “Mountain Whiskey” positioning for Woodsmen has been able to carve out a unique niche for itself away from the long-standing IMFL whisky code within the first two years in the world’s largest whiskey market by focusing on quality, brand, and story.”
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