O’ Be Cocktails, the innovative ready-to-drink cocktail startup, has successfully secured an undisclosed amount in a Pre-Series A funding round led by Inflection Point Ventures (IPV). This significant milestone positions O’ Be Cocktails for accelerated growth, with plans to enhance capabilities, expand their team, and explore 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.
● The funds will be utilized for enhancing capabilities, team building and growing the O’ Be Cocktail Community in India.
● Inflection Point Ventures (IPV) has so far invested over INR 600 Cr across 190+ deals.
O’ Be Cocktails, known for its high-quality craft cocktails, is redefining the social drinking experience by offering premium, ready-to-drink concoctions made from top-notch spirits and natural ingredients. With tantalizing flavors such as Mojito, Cosmopolitan, Long Island Iced Tea, and Gin & Tonic, the brand seamlessly blends the art of mixology with the science of consistency, catering to the growing demand for at-home social gatherings and house parties.
Mitesh Shah, Co-founder of Inflection Point Ventures, commented on the investment, stating, “The Indian alcoholic beverage market has witnessed a steady post-pandemic resurgence. The ready-to-drink cocktail segment represents a promising yet relatively unexplored category with immense market potential. O’ Be Cocktails, with its impressive range of classic cocktails, is poised to become the preferred choice for young adults seeking premium cocktails for socializing. IPV is committed to supporting their expansion efforts and helping them tap into new geographical markets.”
Presently, O’ Be Cocktails operates in nine states across India and Bhutan, bolstered by a robust network of 22 private distributors and two government contracts. This extensive distribution network ensures that O’ Be Cocktails’ products are readily available in over 1,700 premium wine outlets.
Nitesh Prakash, Founder & CEO of O’ Be Cocktails, emphasized the brand’s commitment to sustainability, premium quality, and convenience. He stated, “Consumers today seek sustainable, premium, and convenient brands that align with their lifestyles. They want to enjoy better-quality drinks, not just more of them. Cocktails are becoming increasingly popular in India, and O’ Be Ready to Drink Craft Cocktails is targeting Gen Z and Millennial consumers for social gatherings. We aspire to lead the Ready to Drink (RTD) category’s growth in India and Southeast Asia with our range of O’ Be Cocktails. IPV has been an invaluable partner, understanding the category and market dynamics, including the known and unknown challenges. They grasp the essence of startup DNA and provide the right support. We look forward to continued sustainable growth in partnership with them.”
In the context of the Indian Alcoholic Beverage (Alcobev) market, valued at $35 billion, the Ready-to-Drink (RTD) category accounts for $200 million (0.6% of the market). Triton Market Research projects an annual growth rate of 10.29% in value and 12.15% in volume for the RTD category from 2021 to 2026. In comparison, the US Alcobev market, valued at $313 billion, boasts a larger RTD category worth $22.5 billion (7.2% of the market). It is expected to grow at a rate of 12.42% annually from 2022 to 2027.
With this latest funding injection and its commitment to delivering top-notch cocktail experiences, O’ Be Cocktails is well-positioned to capture a significant share of the expanding ready-to-drink cocktail market.
About O’ Be Cocktails:
Euphoric Beverages Private Limited, established in July 2019 and based in Bangalore, Karnataka, is the parent company behind O’ Be Cocktails. The company operates a state-of-the-art manufacturing unit in South Goa and maintains a lean team of 25 skilled individuals. Their mission is to pioneer the premium ready-to-drink category in India.
About Inflection Point Ventures & Physis Capital:
Inflection Point Ventures (IPV) is an angel investing platform that brings together over 8,600 CXOs, HNIs, and professionals to collectively invest in startups. The firm supports emerging entrepreneurs by providing both financial and experiential capital, while also connecting them with a diverse group of investors. IPV has recently announced the launch of Physis Capital, a $50 million CAT 2 AIF, aimed at investing in pre-Series A to Series B growth-stage startups.
