Jimmy's Cocktails Raises INR 14 Crore In Pre Series-A
The funds will be used to expand its geographical footprint in India and International markets, invest in brand awareness and launch new SKUs
Jimmy's Cocktails, a beverage manufacturing startup, has raised INR 14 crore in a bridge round ahead of its Series A funding, led by Roots Ventures. 7Square Ventures and several startup founders participated.
Existing investors Keki Mistry, vice chairman and CEO, HDFC Ltd; Vidur Talwar, chairman T&T Motors; Anirudh Somani, VP CLSA also participated in the round.
The startup plans to use the newly raised funds to expand its geographical footprint both in India and International markets, invest in brand awareness and launch new SKUs.
"Our growth is a testimony to our brand's sharp positioning. The Mixers category in India is slated to touch INR 7000Cr within the decade and we are now well positioned to lead it, given our ability to manage our supply-chain, R&D and manufacturing end-to-end and in-house. We are thankful to have Roots and all other investors be a part of our journey," said Ankur Bhatia, founder and CEO, Jimmy's Cocktails.
"We were impressed by the relevant industry experience and complementary skill-set of the founders. They are one of the newer entrants in the mixers space and have built a strong foundation for future growth over the past two years, amidst difficult market conditions. The founders understand both the alco-bev segment and FMCG distribution channels intimately which has manifested in rapid sales growth. We are also quite excited by the new product pipeline which the company is developing in collaboration with renowned mixologist Yangdup Lama," said Ravinder Vashist, co-founder, Roots Ventures.
In March 2021, Jimmy's Cocktails, owned and operated by Radiohead Brands Pvt Ltd, had raised INR 6 crore in a Seed round from angel investors.