Naagin, a flavour-first food brand, has raised ₹18 crore in a pre–Series A funding round led by 360 ONE Asset. The round also saw participation from returning investor 8i, now backing Naagin for the third time alongside a collective of 12 current and new angel investors.
The fresh funds raised will be used to scale operations across key verticals including factory expansion, team expansion, R&D and marketing, while accelerating growth across B2B, Ecommerce, and D2C.
Naagin will also focus on new products and category expansion to deepen its domestic presence while strategically building out its export roadmap.
Founded in 2019 by Mikhel Rajani, Arjun Rastogi, and Kshitij Neelakantan, Naagin offers a vibrant range of sauces, oils, and chilli flakes made from chillies like Bhut Jolokia, Sankeshwari, and Kanthari.
Naagin has a presence in over 700 retail locations in India and international distribution through Amazon, Walmart, and Carrefour.
The company continues to invest in deepening its regional sourcing networks and strengthening its farm-to-flavour supply chain to ensure transparency, traceability, and impact at scale.
With over one million customers served and a strong presence across e-commerce, Qcomm and Horeca, Naagin has alos collaborated with brands such as the viral Bhoot Chips with TooYumm!.
Mikhel Rajani, Co-Founder of Naagin, said, “We aligned with 360 ONE instantly on our bold vision for the future. They’ve been very supportive from the get-go and we are excited to continue our journey to create products people truly love, be the flavour provider for the next generation of HORECA brands right here in India and expanding globally to put Indian Hot Sauce on the world map.”
Abhishek Nag, Head of Early Stage VC at 360 ONE Asset, said, “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. Their relentless focus on craft, clean ingredients, and punchy brand storytelling positions them to redefine the global hot-sauce aisle, and we’re fired up to help fuel that journey.”
