Angels add some FYRE to company with Rs 3.2 crore investment

MUMBAI: Functional beverage maker FYRE has raised Rs 3.2 crore ($500,000) from angel investment platform Venture Catalysts.

The seed round was led by Apurva Parekh, director at Pidilite Industries; Anupam Mittal, founder of Shaadi.com; Vikash Agarwal and Manish Agarwal, founders of the Nandan Group among others.

A functional energy drink, FYRE was founded by Rahul Manek, former Partner at Fairwinds Private Equity (formerly Reliance Private Equity).

FYRE will be launched by the end of the year. The firm is looking to use the capital to kickstart operations, build its sales and marketing team as also enhance its distribution network.