Bengaluru, November 10, 2023 : Ready to drink cocktail startup O’ Be Cocktails is raising an undisclosed amount in Pre-Series A Round led by Inflection Point Ventures. The funds will be utilized for enhancing capabilities, team building and expanding into new markets.
O’ Be Cocktails are high-quality ready to drink craft cocktails made with the best spirits and natural ingredients for social gatherings at home and house parties. Each cocktail is created using the finest spirits and all-natural ingredients, resulting in a consistently delightful taste. With a range of flavors such as Mojito, Cosmopolitan, Long Island Iced tea and Gin & Tonic, O’ Be Cocktails blends the art of mixology and science of consistency, creating a cocktail category for social gatherings at home and house parties.
Mitesh Shah, Co-founder, Inflection Point Ventures, says, “Indian market is witnessing a steady growth in alcoholic segment post pandemic years. Ready to drink cocktails is an emerging category which is not much explored and has huge market potential. With O’ Be Cocktails’ phenomenal range of classic cocktails it promises to be a go to product for youngsters looking to socialize with premium cocktails. IPV aims to extend their support and help the company expand geographically”.
O’ Be Cocktails is operational in 9 states in India and Bhutan. It is supported by a network of 22 private distributors and 2 government contracts, ensuring their products are readily accessible in over 1700 premium wine outlets.
Nitesh Prakash, Founder & CEO, O’ Be Cocktails, says, “Today consumers look for sustainable, premium, and convenient brands as part of their lifestyle and want to drink better and not more. Cocktails is a growing culture in India, O’ Be Ready to Drink Craft Cocktails targets GenZ and Millennial consumers for social gatherings at home and house parties. We want to lead the Ready to Drink (RTD) category growth in India and SE Asia with our range of O’ Be Cocktails. IPV has been a great partner in understanding the category and the market, along with the known and unknown challenges – they understand the DNA of the startup and provide the right support. We look forward to continually work and grow with them sustainably.”
In the Indian Alcoholic Beverage (Alcobev) market, which is valued at $35 billion, the Ready-to-Drink (RTD) category constitutes $200 million (0.6% of the market), with a projected annual growth rate of 10.29% in value and 12.15% in volume from 2021 to 2026, as per Triton Market Research. In comparison, the US Alcobev market, worth $313 billion, has a more significant RTD category at $22.5 billion (7.2% of the market), and it’s expected to grow at a 12.42% annual rate from 2022 to 2027.
Corporate Comm India (CCI Newswire)
