Funding Alert

Alcobev Startup RockClimber Raises $1 Million In Pre-Series A Funding

• ByStartupStory     |    July 7, 2021

Alcoholic Beverage brand RockClimber raises $1 million in pre-Series A funding from angel investor Anand Prakash Sharma. “The majority of funds to be utilised for working capital,” Deepak Poduval, co-founder of RockClimber said. The company also has a franchise of wine cooler alcoholic beverages, mixers and other wine based beverages. In the next three yeast, they are targeting revenue of Rs 100 crore. “The commercial wine and beer sectors are up for disruption as consumer palates are changing,” Poduval said. “The shift towards natural beverages that are priced in the value segment is happening, with younger consumers preferring fruity carbonated lower-priced wines.”

According to statistical analysis, India’s wine market is estimated at $150 million and growing at 20-25% annually. Affordable wine is finding more takers among the younger consumers due to technology enabling higher shelf life and a wider portfolio of flavours as compared to beer. According to Sharma, wine coolers are fast eating into the strong-beer market as consumers are switching to more convenient wine options compared to traditional offerings. As restaurants are opening up, and also people are wanting delivery of wine in their houses itself, the demand for wine is also slowly increasing. 

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