Of the 81+ portfolios that Anthill Ventures, the pioneering speed-scaling organization features across urban lifestyle and urban and health tech, a certain chunk has been taken up by visionary alco-bev startups. The founder and CEO of this Hyderabad-based company that is renowned for accelerating early-stage startups with passion, Prasad Vanga acknowledges that the potential and explosive growth of the alco-bev industry in India cannot be ignored. “We are leveraging Anthill’s proven ability to propel innovative brands to market leadership to the alco-bev segment and so far, it has paid off,” he shares.
The company appears to be in the right time at the right place – According to a recent report, the International Spirits & Wine Association of India claims that the alco-bev industry in the country is poised to hit $64 billion by 2030 even as the sector continues to offer direct and indirect employment to an incredible number of 79 lakh Indians. “As the third-largest alco-bev market in the world with 33% of the population being of legal drinking age, it is safe to assume that our subcontinent continues to present compelling opportunities,” says Prasad.
Fresh off raising INR 12.5 crores in a series A funding round for the Indian whiskey brand Woodmen Mountain Whiskey, Anthill is raising a dynamic portfolio in the alco-bev segment that ranges from Indian craft gin to ready to drink labels.
The foray into alco-bev commenced in 2021, when Anthill saw a unique prospect in Bengaluru-based Ajay Shetty’s ready to drink craft spirits label, the first of its kind in India. Salud, as the company is known, raised $1.1Mn from a mix of investors including Anthill’s partners Rana Dagubatti and Prasad before launching 3 exclusive gin and tonic cocktails across 500+ outlets and eventually sold over 2.5 lakh bottles. Since then, the graph continues to move upwards: from creating exclusive music experiences and NFTs to launching India’s first tequila-based agave refresher and a plethora of other cocktails, Salud continues to scale: this year, the company also raised $196K during a and currently boasts a valuation of $19.3Mn. “Anthill Ventures has played a vital role in not only securing funding but also offering insightful and strategic guidance. Their expertise has helped me to maintain a balanced perspective and make informed decisions, leading to the significant growth and expansion of the brand,” says Shetty.
Anthill’s other ventures include Matinee Gin, a female-led game changer in the classic gin category that offers a unique and flavourful experience for discerning drinkers, Nao Spirits and Moonshine Mead, by Ronin Wines Private Limited.
In 2022, the latter company raised $2 Mn as part of its pre-series A that was led by Anthill and saw the participation of others such as Auxano Capital, Supermorpheus and Merisis. “Meads are a fast-growing alco-bev category. This company has created a mead brand that’s seeing good market traction from discerning consumers looking for new tastes and flavours,” shared Prasad. Cofounder of Ronin Wines, Nitin Vishwas, was quick to agree and added this: Anthill Capital in particular already has a strong alco-bev portfolio and a very keen understanding of the alco-bev space in India and we are eager to gain from their learnings with other alco-bev startups.
After tasting success in the alco-bev segment, Anthill has been inspired to foray further into food and food technology with the recent launch of its speed scaling program Gruhas Gusto. Aimed at catalysing the growth of early-stage food company with strategic support from partners including Gruhas, Jubilant Bhartia Family Office and DLF Family Office, Gruhas Gusto is set to redefine the landscape of the food industry with its first cohort that has finalised 5 participants: Recipeat, Hemptyful, Rio Innobev, The Fresh Press, and Grabenord.
According to Prasad, the company’s appetite remains insatiable, “Our team in India is a bunch of hungry young guns who use strategic positioning to manage different aspects of the company: from financial supervision to operational excellence and market positioning as well as sales distribution with a level of detail that is unmatched,” he says. And with a track record in the last 7 years: 9 exits with a rapid 10.6x growth spread across urban lifestyle, urban tech and consumer brands, his words ring with promise and energy.
No VCCircle journalist was involved in the creation/production of this content.
