13.August.2021 – Delhi-based Cigarette brand Hash, announced that it raised USD 3.5 Million ( INR 25 crore) in an angel round. This round was led by Amrac Investment Trust.
This funding round was led by the Founder of CRED,Kunal Shah; the Founder and CEO of Bira91 ,Ankur Jain; the Co-founder of MagicPin, Anshoo Sharma; BharatPe, CEO Suhail Sameer; Jitendra Gupta, founder of Jupiter; Managing Director of BharatPe, Ashneer Grover.
“Hash has the potential to do to tobacco what BIRA did to the alcove industry. The interesting challenge is not only to introduce millennial first products but at the same time change the way the product is distributed to lakhs of paanwaalas by disrupting the supply chain using technology,” added Kapil Chugh, Fund Promoter, Amrac Investment Trust.
About Hash –
A D2C millennial cigarette brand, Hash was founded by Shwetank Jain, having its headquarters in Delhi-NCR. The aim of starting Hash was to empower the small retailers and paanwalas who are unorganised in the country through a product which is mobile-first tech.
Shwetank holds a degree in masters in Management from UCLA University, and has previously built a home textile brand Tapisserie which valued at Rs 100 crore turnover in three years. The Hash team also includes veterans from the FMCG and tobacco industry including Jaskaran Singh Khurana, ex-Managing Director for Golden Tobacco Limited.
Shwetank Jain, Founder, Hash, said, “Tobacco industry has a set of traditional players and aged brands. There is a large addressable market for freshly envisioned products targeted at millennials and distributed efficiently using technology. “There is also an urgent need to equip the millions of unorganised sellers and paanwalas with the latest technology solutions, so as to aid in their business growth and efficiency. With Hash, we are committed to empower this category of small shop-owners and paanwalas,” he added.
Hash claims to build a tech product that will not only help small vendors to digitize their business but develop a profitable and efficient supply chain and offer credit access in this segment.
Hash focuses on building a team of more than 500 professionals across levels, including feet on street sales force by the end of the current financial year.
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