Also secured funding which will be used to create a strong foothold in the rapidly expanding Energy Drinks sector
Gurgaon-based startup, Radiohead Brands, the market leader in the cocktail mixers category, 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 introduces ‘Hustle’ Energy drink, conceived with a view to disrupting the Energy Drinks category.
To fund this expansion Radiohead also announced its recent fundraise, an extension of its earlier Pre-Series A round. The company’s valuation grew 3x over last year and 20x over last three years since it started its operations.
Speaking about the fundraise, Ankur Bhatia, Founder and CEO Radiohead Brands, said, “Almost all categories in India have seen consumers’ willingness to upgrade to better quality products and pay a premium for it, be it in technology, real estate, fashion, automobiles or spirits. Packaged beverage as a category, however, is stuck at lower end of the price segment which is unique to the Indian sub-continent. We are disrupting this and building a multi-beverage brands company at the premium end with better quality products built on the back of sharp positioning and clutter-breaking packaging.”
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 the ambition to reach ₹100 crore revenue run-rate within this year with an ambition to build a ₹1000 crore revenue company within the decade.