To fund this expansion Radiohead also announced its recent fundraise, an extension of its earlier Pre-Series A round. The round was led by Prath Ventures which also saw participation from angels like Vijay Shekhar Sharma of (PayTM) and Neel Bahl and existing investors Keki Mistry (HDFC), Vishesh Khurana (Shiprocket), 7Square Ventures, Vidur Talwar (T&T Motors) and Anirudh Somani (CLSA). The company had raised ₹14 crore last year March in an investment round led by Roots Ventures.
Ankur Bhatia, Founder and CEO Radiohead Brands, said in a statement, “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 building a multi beverage brands company at the premium end.”
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 an ambition to reach ₹100 crore revenue run-rate within this year and to build a ₹1000 crore revenue company within the decade.
Nitin Bhardwaj, Co-founder and COO Radiohead Brands, said in a statement, “We have a ready platform to launch Hustle with route to market already built on the back of Jimmy’s. We see immense potential in the Energy Drinks segment.”
