Swizzle Raises Undisclosed Amount In Its Maiden Seed Funding
The fund raised will be utilized to capture a wide market and both B2B and B2C customer base, increase startup's manufacturing capacity, marketing enhancement and new product's development
Swizzle, a Bengaluru-based new-age alco-bev solutions provider startup, has raised an undisclosed amount in its maiden seed funding round from multiple angel investors. The round witnessed participation of Dr Akshay Singhal, founder and CEO of Log9 Materials and Monika Rao, co-founder and CEO of AIFMetrics. The fund raised will be utilized to capture a wide market and both B2B and B2C customer base for beverages that still need a kind of solution which Swizzle provides, in addition to increase the startup's manufacturing capacity, marketing enhancement and new product's development.
"We are happy and glad to raise Swizzle's maiden seed funding. The funding will help us to hire more workforce, increase our manufacturing capacity and focus extensively on better marketing of our products. Considering the growing market size and scope in this segment, we are looking to raise more funds soon in order to accelerate our rapid growth trajectory," said Vrinda Singhal, co-founder and CEO, Swizzle.
The startup aims to increase its customer base by 7 time by the end of this fiscal year and currently in talks with VCs to raise a Series A investment round and thereby further bolster its pan-Indian expansion plans. Now, it is present across more than 50 restaurants in Bengaluru and having served over 100 events across India. The startup plans to launch Swizzle's mocktail syrups in the cities of Delhi, Chandigarh and Mumbai in the upcoming months of 2022, claimed by the company in a statement.
"The cocktail market in India over the last few years have been on an interesting and upwards journey. Consumers have become more adventurous and experimental with flavors and combinations. Swizzle brings all this to your doorstep and have brought the whole concept of 'farm to table' to the mixology world. Thei packaging, choice of ingredients and quality of product was very impressive, and hence we became Swizzle fans from the moment we had our first sip," Monika Rao, co-founder and CEO, AIFMetrics.
Founded in 2019 by Vrinda Singhal and Deepender Singh, Swizzle is an alco-bev solutions provider that curates handcrafted, fresh and premium varieties of cocktail mixes and mocktail syrups.