Radiohead Brands, the company behind Jimmy’s Cocktails, has successfully closed its pre-Series A funding round, securing ₹35 crore. Led by Prath Ventures with contributions from Capital Ventures, Illeyrium Ventures, angel investors Neel Bahl, and Sandeep Aggarwal of Droom, along with existing investors, the recent fund infusion amounts to ₹12.2 crore. Specializing in cocktail premixes and sparkling beverage mixers, Radiohead Brands competes with established players like Sepoy & Co., Franklin & Sons, Svami, and Jade Forest in the non-alcoholic beverage market.
This funding round follows a previous pre-Series A funding of ₹11 crore in July, featuring investments from Vijay Shekhar Sharma and Prath Ventures. Ankur Bhatia, CEO and founder, emphasized the company’s commitment to sustainable and profitable brand building, focusing on cash flow, zero credit sales, and account-wise profitability. With a reported ₹80 crore in gross revenues for FY23, Radiohead Brands aims to close the current fiscal year at ₹100 crore, with profitability anticipated in the next year.
Piyush Goenka, founder of Prath Ventures, expressed confidence in Radiohead Brands, citing their strong understanding of brand building and distribution. The funding aligns with the company’s growth strategy as it competes in India’s burgeoning non-alcoholic beverage market, projected to witness significant growth in the coming years.
That’s amazing news about Radiohead Brands securing ₹35 crore in funding! It’s great to see them getting the support they need to grow in the non-alcoholic beverage market. Sending my best wishes to Jimmy’s cocktail team.~ Dr Shishir said Gupta founder & CEO of StartupLanes
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