Latest Boutique Spirit Brands News
Aug 2, 2018
| #VentureCanvas Pramugdha Mamgain | DealStreetAsia – VC Racetrack, an artificial intelligence startup, has raised $5 million in a pre-series A funding round from Indian and global investors while early-stage venture capital firm Kae Capital is investing about Rs 6.8 crore ($1 million) in hard liquor firm Boutique Spirit Brands (BSB). AI startup Racetrack raises $5m Racetrack, an artificial intelligence startup that provides solution for sales and support, on Wednesday announced that it has raised $5 million in a pre-series A funding round from Indian and global investors. The investors include Murali Krishna, former president and founding member of Biocon, and US-based Dov Kagan. The latest round has reportedly valued the firm at $21 million. The Bangalore-based company plans to use the funds to expand its operations in the US, Mauritius and Singapore, besides foraying into newer business verticals such as retail, banking and health care. Kae Capital backs Boutique Spirit Early-stage venture capital firm Kae Capital is investing about Rs 6.8 crore ($1 million) in hard liquor firm Boutique Spirit Brands (BSB) which sells rum and brandy under the brand names of Gladius and Zeus respectively in Orissa and Andhra Pradesh, reported The Economic Times. BSB clocked revenue of over Rs18 crore in FY18 from sales of 50,000 cases in these two markets, and is targetting gross revenues of about Rs 80 crore in FY19 on the back of widened portfolio. BSB plans to take its rum and brandy to eight and four states respectively. Besides, it’s also looking to launch a whiskey and a vodka brand. The company is eyeing sales of over 2 lakh cases this fiscal.