Radiohead Brands Closes Pre-series A Round Maker Of Jimmy's Cocktails, Radiohead Brands has raised an additional INR 12 crore led by Prath Ventures, the closure of their Pre Series A round stands at INR 35 crore
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Gurgaon based startup, Radiohead Brands, makers of Jimmy's, announced closure of their Pre Series A round at INR 35 crore, led by Prath Ventures, Capital Ventures and Illeyrium Ventures. The current fundraise of INR 12.2 crore was led by Prath Ventures, with participation from Capital Ventures, Illeyrium Ventures, angel investors Neel Bahl and Sandeep Aggarwal of Droom, and existing investors.
Recently the company had announced its transformation into a multi-beverage brands company, broadening its offerings beyond Jimmy's Cocktails and Sparkling Mixers. As part of this expansion, the company has recently introduced 'Hustle' Energy drink, conceived with a view to disrupt the fast growing Energy Drinks category. This strategic portfolio expansion reflects the brand's vision to build the premium beverage category in India and its commitment to deliver exceptional taste and unrivaled drinking experiences to a broader audience.
"I want to welcome our new investors and thank our existing investors for their continued faith in us. For this round we had very high interest from prominent VCs ranging from $8M - $10M however we weren't able to accept that as we do not believe in a high burn high growth business model. We have an eclectic mix of people on our cap table who like us, believe in a sustainable and profitable approach to building our brands," shared Ankur Bhatia, CEO.
Founded by Ankur Bhatia & Nitin Bhardwaj in 2019, its first brand Jimmy's claims to have moved ahead of all other startups competing in the same space, having served over 12 million drinks in FY'23. It now plans to use its deep category experience, already established route to market and unique ability to build brands fast and frugal to dominate the premium energy drinks segment.
Radiohead Brands had raised INR 14 crore in March 2022 in a funding round led by Roots Ventures as part of their Pre Series A. To launch their new Energy Drink it extended its Pre Series A for another INR 20 crore which it did in two parts the first one in June 2023 and the most recent now. The company plans to enter several new categories in open white spaces still untapped by the beverage majors over the next few years and has an ambition to reach INR 100 crore revenue run-rate by next year building to a INR 1000 crore revenue company within the decade.