D2C F&B startup Radiohead Brands raises $1.3 million in extended Pre-Series A led by Parth Ventures

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Radiohead Brands, the parent company of Jimmy’s Cocktails, a direct-to-consumer (D2C) food and beverages (F&B) startup, announced that it has raised an additional $1.3 million in extended pre-Series A led by Parth Ventures, where angel investors, including Vijay Shekhar Sharma of Paytm, Neel Bahl, and existing investors such as Keki Mistry, Vishesh Khurana, 7Square Ventures, Vidur Talwar, and Anirudh Somani also participated.

Radiohead Brands Expansion into Energy Drinks Category and Growth Plans

The Radiohead Brands, which currently operates in the cocktail and sparkling mixers category, plans to utilize the fresh funding to expand its product portfolio and establish a strong presence in the energy drinks space. The startup recently ventured into the energy drinks segment with the launch of its product called Hustle. CEO Ankur Bhatia stated that the company aims to disrupt the packaged beverages category by building a multi-beverage brands company focused on premium quality products, innovative positioning, and distinctive packaging.

Backing from Parth Ventures and Company’s Valuation

Piyush Goenka, the founder of Parth Ventures, expressed confidence in Radiohead Brands and its potential in the premium beverages segment in India. He praised the team’s expertise in brand building and distribution. Founded in 2019 by Ankur Bhatia and Nitin Bhardwaj, the startup had previously raised $1.8 million in a pre-Series A funding round led by Roots Ventures in April 2022. The company has experienced remarkable growth, with its valuation increasing threefold over the past year and twentyfold since its inception.

Radiohead Brands Expansion Plans and Revenue Growth

With the new funding, Radiohead Brands intends to enter various new product categories in the coming years. The company aims to achieve an annual run rate (ARR) of INR 100 crore by 2024. In the fiscal year 2022-23 (FY23), the startup reported a 75% year-on-year (YoY) revenue growth. The products under the Jimmy’s Cocktails brand are currently available in over 20,000 outlets across 50 cities. The company sells its products through both ecommerce marketplaces and its own website.

Competition and Growth Prospects in Non-Alcoholic Drinks Market

Jimmy’s Cocktails competes with major players in the non-alcoholic drinks market, including PepsiCo, Coca-Cola, Hector Beverages, and Red Bull. The non-alcoholic drinks market in India has grown. Sales have increased due to discretionary spending and the rise of D2C brands. A report predicts that the market will reach INR 60,180 crore by FY27. This indicates growth opportunities for Radiohead Brands and other players in the sector.

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D2C F&B startup Radiohead Brands raises $1.3 million in extended Pre-Series A led by Parth Ventures

Radiohead Brands, the parent company of Jimmy’s Cocktails, a direct-to-consumer (D2C) food and beverages (F&B) startup, announced that it has raised an additional $1.3 million in extended pre-Series A led by Parth Ventures, where angel investors, including Vijay Shekhar Sharma of Paytm, Neel Bahl, and existing investors such as Keki Mistry, Vishesh Khurana, 7Square Ventures, Vidur Talwar, and Anirudh Somani also participated.

Radiohead Brands Expansion into Energy Drinks Category and Growth Plans

The Radiohead Brands, which currently operates in the cocktail and sparkling mixers category, plans to utilize the fresh funding to expand its product portfolio and establish a strong presence in the energy drinks space. The startup recently ventured into the energy drinks segment with the launch of its product called Hustle. CEO Ankur Bhatia stated that the company aims to disrupt the packaged beverages category by building a multi-beverage brands company focused on premium quality products, innovative positioning, and distinctive packaging.

Backing from Parth Ventures and Company’s Valuation

Piyush Goenka, the founder of Parth Ventures, expressed confidence in Radiohead Brands and its potential in the premium beverages segment in India. He praised the team’s expertise in brand building and distribution. Founded in 2019 by Ankur Bhatia and Nitin Bhardwaj, the startup had previously raised $1.8 million in a pre-Series A funding round led by Roots Ventures in April 2022. The company has experienced remarkable growth, with its valuation increasing threefold over the past year and twentyfold since its inception.

Radiohead Brands Expansion Plans and Revenue Growth

With the new funding, Radiohead Brands intends to enter various new product categories in the coming years. The company aims to achieve an annual run rate (ARR) of INR 100 crore by 2024. In the fiscal year 2022-23 (FY23), the startup reported a 75% year-on-year (YoY) revenue growth. The products under the Jimmy’s Cocktails brand are currently available in over 20,000 outlets across 50 cities. The company sells its products through both ecommerce marketplaces and its own website.

Competition and Growth Prospects in Non-Alcoholic Drinks Market

Jimmy’s Cocktails competes with major players in the non-alcoholic drinks market, including PepsiCo, Coca-Cola, Hector Beverages, and Red Bull. The non-alcoholic drinks market in India has grown. Sales have increased due to discretionary spending and the rise of D2C brands. A report predicts that the market will reach INR 60,180 crore by FY27. This indicates growth opportunities for Radiohead Brands and other players in the sector.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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