O’ Be Cocktails, a Bengaluru-based RTD cocktail business, has raised its first round of funding from First Cheque, Letsventure, Bhavish Aggarwal, and Ankit Bhati of Ola, Abhishek Goyal of Tracxn, and Sprout Investments.
The funds raised in this round will be used to support O’ Be Cocktails’ main objective of increasing sales through stores while also continuing to increase manufacture of a variety of cocktails.new premium cocktail range.
O’Be Cocktails, founded by Nitesh Prakash in 2020, aims to provide customers with a wonderful cocktail experience that titillates all of their senses, even in the comfort of their own homes. The product is unusual in that it reimagines cocktails in the context of affluent and discerning Indian consumers who are on the lookout for sophisticated, globally inspired, and absolute experiences.
Nitesh Prakash, Founder, and CEO, O’ Be Cocktails, 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 the very early stages of growth on per capita consumption and premiumization. With O’ Be Cocktails, we have seen tremendous response from consumers and an even greater amount of demand for RTD alcoholic beverages. Our aim is to become the pioneers of the ready-to-drink category growth with the right blend of product, brand, and sales.”
Kushal Bhagia, CEO, FirstCheque.vc, stated, “The Indian Alcohol market is a huge, fast-growing $35 billion market. We however haven’t seen much product innovation from the incumbents over the past few years despite newer categories like Ready-To-Drink cocktails gaining lots of ground internationally. We believe the time is ripe for ready-to-drink cocktails to take the Indian market by storm and we love the product and brand that Nitesh and team are building.”