Ready to drink cocktail startup, O’ Be Cocktails, is in the process of raising an undisclosed amount in its Pre-Series A Round, with Inflection Point Ventures leading the way.
The funds will be put towards improving capabilities, building the team, and venturing into new markets.
“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,” shared Mitesh Shah, Co-founder, Inflection Point Ventures.
O’ Be Cocktails crafts premium ready-to-drink cocktails, blending the finest spirits and natural ingredients to elevate social gatherings at home and house parties. Each cocktail is meticulously crafted using top-tier spirits and all-natural elements, ensuring a consistently delightful taste. Offering a variety of flavors like Mojito, Cosmopolitan, Long Island Iced Tea, and Gin & Tonic, O’ Be Cocktails seamlessly combines the art of mixology with the science of consistency, defining a new cocktail category for social occasions at home and house parties.
Operating across 9 states in India and Bhutan, O’ Be Cocktails has established a robust presence. With the backing of 22 private distributors and 2 government contracts, their products are easily accessible, available in over 1700 premium wine outlets.
“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,” added Nitesh Prakash, Founder & CEO, O’ Be Cocktails.
In the Indian Alcoholic Beverage (Alcobev) market, valued at $35 billion, the Ready-to-Drink (RTD) category makes up $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, according to Triton Market Research. Contrasting this, the US Alcobev market, with a total worth of $313 billion, features a more substantial RTD category at $22.5 billion (7.2% of the market), expected to grow at a 12.42% annual rate from 2022 to 2027.