Naagin Sauce, a Mumbai-based fast-moving consumer goods (FMCG) startup, has raised over $2.1 million in a new funding round led by 360 ONE Asset Management (formerly known as IIFL Wealth). The round also saw participation from prominent angel investors, including Sahil Kini of Micro VC, chef Saransh Goila, and actor Jim Sarbh, among others. The capital will fuel the startup’s expansion across offline and online retail channels, as well as bolster product development and marketing efforts.
Founded in 2019 by Arjun Rastogi, Aneesh Bhasin, and Vikram Sablok, Naagin Sauce aims to redefine India’s hot sauce segment by creating locally inspired products with bold, regional flavors. Unlike global hot sauces that often overlook Indian spice preferences, Naagin’s offerings are crafted using native ingredients like Bhut Jolokia, Sankeshwari chillies, and a blend of Indian spices — delivering heat that feels both familiar and exciting to Indian consumers.
The startup has steadily grown a loyal customer base through its online presence and strategic retail partnerships. Its sauces, available in a variety of spice levels and flavor profiles, have been well-received for their authenticity and versatility — ideal not just for snacks but also for home cooking. With a product line that bridges convenience and taste, Naagin is tapping into India’s growing demand for premium, culturally relevant food experiences.
The recent funding will be utilized to scale operations across key Indian cities, improve supply chain efficiency, and introduce new condiments to the market. Naagin also plans to invest in brand-building campaigns to increase consumer awareness and drive adoption in a category traditionally dominated by multinational players and legacy Indian brands.
Naagin Sauce’s growth reflects a broader trend in India’s FMCG sector — the rise of challenger brands that blend innovation with cultural authenticity. As Indian consumers increasingly seek out differentiated and premium food options, Naagin is well-positioned to lead the shift toward more adventurous, flavor-forward condiments rooted in Indian culinary heritage.
This funding milestone not only validates Naagin Sauce’s vision but also signals strong investor confidence in India’s next wave of food startups that are reshaping the palate of a modern, urban India.