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Beverage startup Rio Innobev raises Rs 10 Cr led by Atomic Capital

EntrackrEntrackr · 3m ago
Beverage startup Rio Innobev raises Rs 10 Cr led by Atomic Capital
Medial

Beverage startup Rio Innobev raises Rs 10 Cr led by Atomic Capital Beverage company Rio Innobev has raised its first institutional fundraising of Rs 10 crore in a pre-Series A funding round led by Atomic Capital along with participation from other investors. The fresh funds will be used for distribution expansion, brand building, product innovation, and manufacturing upgrades, Rio Innobev said in a press release. Co-founded in 2014 by Rahul Sangoi, Rajiv Sangoi, and Rohan Sangoi, Rio Innobev’s products RIO Bubbly Fruit Drink (BFD) offers exotic fruit flavours with 15% juice content, fortified with honey and Vitamin C, and 25% less sugar, meanwhile, RIO BOOM Energy Drink caters to young, aspirational consumers with a bold taste and energy-boosting formula. The Pune-based startup states that it has presence in over 35,000 retail stores across more than 25 cities in Maharashtra and Gujarat, and aims to scale to 1,00,000 outlets over the next three years while deepening its omnichannel presence with Quick Commerce platforms and modern trade networks. Rio Innobev claims that it has stayed EBITDA positive since inception, growing from 7.5 lakh units in its first year to over 15 million cans and bottles sold annually. The brand aspires to focus on innovation, speed-to-market, and uncompromising quality. The company aims to expand its portfolio across indulgence, health, and functional beverage segments, catering to evolving consumer preferences. Rio Innobev has presence in outlets like Dmart, Reliance Retail, 7-Eleven, Wellness Forever, and Patel Retail, as well as on quick commerce platforms such as Zepto, Swiggy Instamart, and Blinkit. The company plans to triple its general trade footprint and significantly deepen its reach in India’s top metros and emerging mini-metros over the next three years. Rio Innobev also plans to expand its manufacturing capabilities to ensure faster go-to-market execution, superior product quality, and strong unit economics as it prepares to compete more aggressively in both national and regional markets.

Consumer goods companies step up efforts to mitigate climate risks

LivemintLivemint · 1y ago
Consumer goods companies step up efforts to mitigate climate risks
Medial

Several large makers of fast-moving consumer products in India are taking steps to mitigate the risks posed by erratic and extreme weather patterns, according to their annual filings. Dabur India, a consumer goods maker, reported that climate change, including unseasonal rainfall and delayed winters, affected its seasonal portfolio in FY24. The company has hired its first-ever chief sustainability officer and is focusing on climate-related uncertainties. Other companies such as Nestlé India, Hindustan Unilever, and ITC are also implementing sustainability measures to reduce their impact on the environment and secure their supply chains. Bisleri, a packaged water maker, is exploring the introduction of water credits to promote water conservation in the beverage industry.

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