Beverage brand Bored Beverages has raised over Rs 2.5 crore, or close to $314,500, in a seed funding round headed by Inflection Point Ventures, with participation from Dot In Network, Bhawana Bhatnagar, founder of WeFounder Circle, and Soumya Kant, founder of Clovia. The creator of Simba Beer, Prabhtej Singh Bhatia, will participate in the development of Bored Beverages as a strategic investor and mentor.
Vinayak Malhotra, co-founder, Bored Beverages said,“The seed funding is going to play a pivotal role in achieving the vision for Bored Beverages which is to break the monotony of traditional alcohol in the Indian market. With No Label Mead as our first product towards building a cross-category portfolio company, we plan to bring to the market new alcohol and new flavours for consumers to experience. IPV recognised our play in the alco-bev sector.”
Mitesh Shah, co-founder, Inflection Point Ventures, mentioned “India as an alcohol consumption market has been steadily on a rise. The young population — Gen-Z, and Millennials – want to explore and expect unique combinations to be served. We believe Bored Beverages has understood this need of the market and is ready to roll out a range of beverages, which suits the palates and makes the experience pleasant and worthy. Going forward, we expect alternate alcoholic beverages to be a fast-growing segment and Bored Beverage has the right concoction to serve unique drinks to its target customers.”
The company claims that the funds obtained will be used to grow the team, scale up the sales and marketing activities, as well as to create a strong distribution network and establish the company’s brand in the marketplace.
About Bored Beverages
Delhi based Bored Beverages was launched in 2020. At present, the first product in the portfolio of the Company – No Label Mead Original is available in four different cities: Delhi, Gurgaon, Mumbai, and Pune. With the help of its clever product pipeline, successful on-market trade tactics, and marketing strategy, the brand hopes to establish itself in the ready-to-drink alcohol industry.
Bored Beverages seems to be a fascinating startup with motivating advancement on food and beverage services platform. Sending my best wishes for your business. I hope this startup gets you and your team a lot of success and fortune.Shishir Gupta, Founder and CEO, StartupLanes
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