Funding Alert

O’ Be Cocktails raises Rs 3.5 crore in its bridge funding round from Sattva Family Office

• ByStartupStory     |    July 20, 2022

O’ Be Cocktails, a ready-to-drink premium Cocktail business based in Bengaluru, has secured Rs 3.5 crore in a bridge deal. Sattva Family Office, Gaurang Jhunjuhwala (partner, Mckinsey), Ankit Bhati (co-founder, OLA), LetsVenture, and others led the funding round. The funds raised will be utilised to expand the distribution scale to reach every cocktail customer in India, as well as to increase the startup’s present offering.

Nitesh Prakash, creator and CEO of O’ Be Cocktails stated, “With the art of mixology and the science of consistency, we created a superb selection of ready-to-drink cocktails that consumers and our investors enjoyed. The recent financing will allow us to reach a broader audience for O’ Be Cocktails. At O’ Be, we aspire to lead the ready-to-drink sector in India and beyond.”

Sattva Family Office’s Shivam Agarwal said, “Ready-to-drink beverages are revolutionising beverage consumption around the world, and we admire what the team at O’ Be Cocktails is attempting. Alco-Bev is a difficult category to be in. The team has consistently demonstrated the necessary efforts to spearhead the impending expansion of RTD in Indian markets.”

About O’ Be Cocktails:

Nitesh Prakash launched O’ Be Drinks in 2021, offering ready-to-drink premium cocktails. With an alcohol by volume of 8%, the brand now includes four cocktails in its portfolio: O’ Be Fab Cosmopolitan, O’ Be Sauve Gin & Tonic, O’ Be Lively LIIT, and O’ Be Zesty Mojito. O’ Be Cocktail has sold one lakh cocktails and plans to sell ten lakh in the next 12 months across India, with a monthly turnover of INR one crore. In the next five years, the brand hopes to reach INR 100 crore in Indian and worldwide markets.

 

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