Swizzle, Bengaluru-based Mocktail Startup, Secures Seed Funding for Expansion

• ByStartupStory     |    March 5, 2024

Swizzle, the innovative Made-in-India mocktail provider, has successfully raised an undisclosed amount in seed funding from a group of angel investors, led by existing investor Mrs. Monika Rao. Dr. Akshay Singhal, Founder & CEO of Log9 Materials, and new investors Mr. Deepak Gambhir and Sri Harsha Thota, also participated in this equity-based seed investment round.

Having previously raised funds in 2022, Swizzle utilized the proceeds for product development and achieving product-market fit. The startup has now amassed a cumulative funding of over INR 1 Cr. Co-Founders Vrinda Singhal and Deepender Singh expressed their excitement about this funding round, highlighting its importance in propelling Swizzle’s mission to revolutionize the Indian beverage industry.

“We are super excited to announce our latest seed fundraise, which marks a pivotal milestone in Swizzle’s journey, and catalyses our mission of revolutionizing the beverage industry in India,” said Vrinda Singhal and Deepender Singh, Co-Founders of Swizzle.

The funds will play a crucial role in expanding Swizzle’s presence in both B2C and B2B segments. The goal is to be accessible in over 1000 locations by August 2024, reaching new cities and bolstering the distribution network. The co-founders outlined their plan to implement effective marketing and go-to-market strategies for accelerated growth, aiming to become the preferred choice for beverage enthusiasts across India.

Lead Investor Ms. Monika Rao commented, “Swizzle has demonstrated a unique ability to innovate and bring to market a range of high-quality mixers. Their revamped hip and cool branding and packaging will help them scale and acquire the upwardly mobile young customer base across Tier 1 cities.”

Swizzle, known for its natural beverages made with real fruits and herbs, achieved a remarkable 210% growth during FY 2023. The startup is on track to hit its projected revenue of Rs 15 Crore by the end of FY 2025. Swizzle’s ready-to-drink (RTD) mocktails, available in various flavors and 100% vegan, are sold through its website and prominent e-commerce platforms like Amazon, JioMart, Flipkart, and Swiggy-Mini.

On the retail front, Swizzle has gained popularity in over 350 locations across Bengaluru, including vending machines, Nature Basket stores, MRP outlets, and supermarkets. The startup aims to expand its offline retail presence rapidly, targeting 3000+ locations by the end of the current financial year, serving up to 5 lakh mocktails per month. Swizzle also plans to venture into Hyderabad, Mumbai, Pune, and Chennai, tapping into the HoReCa and QSR segments.

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