Indulge beverages raises $1 million in Angel Funding

Delhi-based Indulge Beverages brand Bonhomia has raised $1 million in angel funding from HNI’s lead by Alok Rawat, President of FGWilson and an early investor in Grey Orange Robotics as well as Neeta Mirchandani from Kae Capital and Kanwaljit Singh, the founder of Fireside Ventures among others.

The funds will be used to expand the startup’s retail presence in the country. In October 2015, the company launched brewing machine and claims to have sold 2,000 machines in 3 months.

“We have sold over 1 lakh capsules in the last month, besides expansion the funds are going to be used to improve our back-end capabilities and develop our team,” said Kunal Bhagat, Co-Founder of Indulge Beverages.

Source: The Economic Times

Image Courtesy: The Economic Times