Naagin, the flavour-first food brand known for shaking up India’s condiment landscape, has raised ₹18 Crores 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.
Founded in 2019 by Mikhel Rajani (ex-Francesco’s Pizzeria and Mandala), Arjun Rastogi (ex-BlackRock, EY), and Kshitij Neelakantan (ex-public policy and operations, SOAS alumnus), Naagin was born out of a simple frustration: Why were Indian flavours missing from the global mainstream? That question turned into a mission, to put Indian chillies on the world map and make Indian flavour profiles the hero again.
This fundraise marks a significant step forward in Naagin’s journey to redefine how India and the world experience flavour. The capital will be deployed to scale operations across key verticals including factory expansion, team expansion, R&D and marketing, while accelerating growth across B2B, Ecommerce, and D2C. With multiple new products and category expansions in the pipeline, the brand is poised to deepen its domestic presence while strategically building out its export roadmap.
“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,” said Mikhel Rajani, Co-Founder of Naagin.
Naagin has already built a cult following among consumers and chefs alike, delivering bold, distinctly Indian flavours in formats designed for modern kitchens. With over one million customers served and a strong presence across ecommerce, Qcomm and Horeca, the brand has emerged as a category disruptor. Collaborations such as the viral Bhoot Chips with TooYumm! have further cemented its cultural relevance.
This round reflects growing investor confidence in Naagin’s differentiated approach, one that blends chef-crafted innovation, farmer-led sourcing, and a brand built for the new-age consumer. 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.
