Premium Cocktails Brand O’ Be Cocktails Raises Rs 3.5 Cr In Funding
O’ Be Cocktails, a Bengaluru-based Ready to drink cocktail startup, has raised its first round of investment of Rs 3.5 crore. The funding round was led by First Cheque, Letsventure, Bhavish Aggarwal and Ankit Bhati from Ola, Abhishek Goyal (Founder of Tracxn), and Sprout Investments.
As per the startup, the investment will be used to fund its core strategy of growing sales through retailers and continue increasing its production of a new premium range of cocktails.
O’ Be Cocktails | Ready to Drink Premium Cocktails
Founded by Nitesh Prakash, O’ Be Cocktails offers crafted drinks such as O’ be Fab Cosmopolitan, O’ be Zesty Mojito, and O’ be lively LIIT, ranging across premium spirits.
Speaking on the development, Nitesh Prakash said,
“Everyone loves a cocktail, but not everyone has the know-how or means to make one at the comfort of their homes. The Indian alcohol market is still in very early stages of growth on per capita consumption and premiumisation. With O’ Be Cocktails, we have seen tremendous response from consumers and an even greater amount of demand for RTD alcoholic beverages.
He added that O’ Be Cocktails aims to become the pioneers of the ready to drink category growth with the right blend of product, brand, and sales.
Available in 200 premium stores, the startup has recorded growth and consumer reception for cocktails across Bengaluru and Goa. O’ Be Cocktails aims to launch new cocktail variants and reach 1000+ outlets across other urban markets in FY21-22.
After China and Russia, India is the third-largest alcoholic beverage market. And, this segment in India is estimated to grow at a CAGR of 7.4 % during 2017-2030, as per Goldstein Market Intelligence.
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