Founded in 2019 by Mikhel Rajani, Arjun Rastogi, and Kshitij Neelakantan, Naagin has rapidly grown into a category disruptor by introducing Indian chilli-forward condiments designed for modern kitchens.
New Delhi: Homegrown hot sauce brand Naagin has raised Rs 18 crore (over $2 million) in a Pre-Series A funding round led by 360 ONE Asset. The round also saw participation from existing investor 8i Ventures—marking its third investment in the brand—along with a group of 12 new and returning angel investors, the company said in a release.
Founded in 2019 by Mikhel Rajani, Arjun Rastogi, and Kshitij Neelakantan, Naagin has rapidly grown into a category disruptor by introducing Indian chilli-forward condiments designed for modern kitchens. The brand has built a loyal customer base with its distinctive, chef-crafted hot sauces and innovative flavour formats, and it has served over one million customers to date.
The fresh capital will be used to scale Naagin’s operations across manufacturing, R&D, and marketing, while deepening its reach in B2B, ecommerce, and D2C segments. A portion of the investment will also go toward expanding the team and strengthening the brand’s export roadmap.
“We aligned with 360 ONE instantly on our bold vision for the future,” said Mikhel Rajani, Co-founder of Naagin. “We are excited to continue our journey to create products people truly love, become the flavour provider for the next generation of HORECA brands in India, and take Indian hot sauce global.”
With a presence across e-commerce platforms, quick commerce channels, and over 700 premium retail outlets in India, Naagin is also expanding its international footprint through platforms like Amazon, Walmart, and Carrefour. Notably, the brand’s collaborations, such as the viral Bhoot Chips with Too Yumm!, have contributed to its growing cultural relevance and market presence.
The company is also doubling down on its commitment to sustainability and traceability. Naagin operates a plastic-neutral business and works directly with farmers using blockchain-based supply chain tools, ensuring transparency and ethical sourcing across its portfolio, which includes hot sauces, chilli oils, and spice blends.
“Naagin isn’t simply bottling heat—it’s distilling India’s rich chilli heritage into a fresh, addictive flavour experience that belongs on tables from Mumbai to Brooklyn,” said Abhishek Nag, Head of Early Stage VC at 360 ONE Asset. “Their relentless focus on craft, clean ingredients, and punchy brand storytelling positions them to redefine the global hot sauce aisle.”
The latest funding underscores growing investor confidence in India’s emerging premium food brands and the rising global appetite for authentic regional flavours delivered with modern branding and execution.
