Sorry Sugar Secures $1 Million Funding
Sorry Sugar, a beverage brand based in Gurugram, has successfully raised $1 million in a seed funding round co-led by the Dhanuka family and Amishi London. The company has announced that this funding will facilitate the expansion of its online and offline market presence throughout North India and assist in new product launches.
About Sorry Sugar
Established this year by entrepreneurs Deepak Pathak, Kunal Verma, Shashank Sherawat, and Saiyam Malik, Sorry Sugar specializes in beverages that contain zero added sugar. Its diverse portfolio features coffee-based flavours including Hazel Almond Latte, Silk Chocolate Mocha, Sea Salt Caramel, French Vanilla Cloud, and Butter Gooey Toffee.
Exciting Product Offerings
The brand provides a Rs 399 trial pack that contains five different flavours, with the entire amount redeemable upon upgrading to a larger pack. Sorry Sugar’s beverages are sweetened with monk fruit and include added fibre, positioning them as ideal alternatives for consumers aiming to cut down on their sugar consumption.
Strong Initial Performance
In its first month, Sorry Sugar reported generating more than Rs 1 crore in revenue and is currently managing three offline stores across Gurugram and Delhi. The company aims for an Annual Recurring Revenue (ARR) exceeding Rs 60 crore by the end of the ongoing financial year and is set to expand into direct-to-consumer (D2C), quick commerce, and offline retail channels.
Future Innovations
Plans are also underway to introduce a new line of gelatos with zero added sugar, sweetened using monk fruit. This initiative is part of Sorry Sugar’s strategy to cater to the growing demand for functional and clean-label beverages in India.
Industry Activity
The funding the company has received occurs amidst a surge of activity within India’s functional and clean-label beverage sector. For instance, Peping, known for its prebiotic fizzy drinks and probiotic digestive shots, secured Rs 2.5 crore from IAN Angel Fund in March this year. Additionally, Swizzle, a startup focused on clean-label beverages, raised Rs 2 crore in seed funding in December of the previous year. Similarly, TABP Snacks and Beverages garnered $3 million to boost its manufacturing and distribution capabilities.