Naagin Sauce raises $2.1 M from 360ONE Asset, others

Mumbai-based hot sauce startup Naagin Sauce has raised USD 2.1 million in its latest funding round led by 360ONE Asset, with participation from existing backer 8i Ventures and a clutch of angel investors.The startup plans to deploy the fresh proceeds to scale up its manufacturing and production capacity as well as to strengthen supply chain operations and support team expansion. Additionally, the company aims to expand its flavour portfolio and explore growth opportunities in both domestic and overseas markets.Founded in 2019 by Arjun Rastogi, Mikhel Rajani, and Kshitij Neelakantan, Naagin, initially focused solely on hot sauces, it has since expanded its product portfolio to include chili oil, pizza-pasta sauce and salsa.In 2022, the startup had raised over USD 1 million in its seed funding round from actor Abhishek Bachchan, Eight Innovate Fund-I (8i Ventures) and other high-net-worth individuals.