Feline Spirits Secures Funding to Expand Alcoholic Beverage Range
Feline Spirits, a startup in the alcoholic beverage sector, has successfully raised Rs 5.2 crore during a pre-Series A funding round, primarily backed by Inflection Point Ventures (IPV). This funding will be instrumental in the company’s efforts to broaden its product offerings and explore new market opportunities.
Established by Prabhat Sharma and Rohit Saxena, Feline Spirits is dedicated to crafting premium and mass-premium vodka, whisky, and brandy. The startup is committed to using authentic ingredients and maintains transparency in its distilling methods.
Feline Spirits currently operates in eight states and union territories, boasting a customer base exceeding 20 lakh. The brand has ambitious sales targets for FY25, projecting the sale of over 4.1 lakh bottles (19,751 cases) and aiming for Rs 25 crore in sales revenue. Furthermore, Feline Spirits holds operating licenses across eight markets, including five that are government-owned and operated.
With a commendable gross profit margin of 55% in its premium segment, Feline Spirits plans to address the disparity between low-quality mass-market options and expensive international brands by providing affordable yet premium spirits.
Market research indicates that India’s spirits market is set to reach $31 billion by 2024, with a compound annual growth rate (CAGR) of 6.51% anticipated through 2028. On a global scale, the sector is predicted to expand from $1.4 trillion in 2022 to $2 trillion by 2027.
