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

EntrackrEntrackr ยท 4m 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 Innobevโ€™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 Indiaโ€™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.

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JIIF investors invest in Rs 350 Cr consumer-focused fund by Atomic Capital

EntrackrEntrackr ยท 2m ago
JIIF investors invest in Rs 350 Cr consumer-focused fund by Atomic Capital
Medial

Investors from the early-stage angel network JIIF have invested in a Rs 350 crore fund by Atomic Capital, a newly launched consumer-focused venture capital firm. JIIF-affiliated angel investors alone contributed Rs 26.5 crore to the fund. According to JIIF, this is the largest collective bet by JIIFโ€™s investors in the consumer VC space, underscoring rising conviction in Indiaโ€™s next wave of consumption, driven by digital-first brands, regional demand, and wellness-oriented products. Commenting on the investment, Jeenendra Bhandari, Chairman of JIIF, said, โ€œIt is a proud moment to see JIIF members backing Atomic Capitalโ€™s first fund. Their investment aligns with our broader thesis of supporting category-defining, purpose-led startups. Indiaโ€™s consumer opportunity is massive, and Atomicโ€™s operating model is well positioned to unlock enduring brand value.โ€ Atomic Capital operates with an โ€œOperating VCโ€ approach, offering not just capital but also hands-on support in brand building, growth marketing, supply chain optimization, and leadership hiring. In FY25, JIIFโ€™s investor base deployed over Rs 60 crore across more than 20 startups spanning fintech, healthtech, AI, logistics, and consumer. The network now supports a portfolio of over 150 companies. Mumbai-based Atomic Capital, an early-stage VC firm founded in 2024 by Apoorv Gautam, combines strategic depth with on-ground execution.

ANNY raises Rs 10 Cr in pre-Series A round led by Atomic Capital

EntrackrEntrackr ยท 1m ago
ANNY raises Rs 10 Cr in pre-Series A round led by Atomic Capital
Medial

Fashion-tech brand ANNY has raised Rs 10 crore in a pre-Series A funding round led by Atomic Capital. The proceeds will be used to expand product categories, drive innovation, enhance proprietary tech stack, hire key leadership talent, and strengthen distribution channels, ANNY said in a press release. Co-founded in 2023 by Japjot Singh, Aveen Kaur, and Rahul Tanwar, ANNY is a multi-category accessible luxury fashion brand that aims to transform the way modern Indian women experience fashion. Built on a real-time, inventory-light model, it delivers globally inspired, high-quality fashion at accessible prices. With a vertically integrated supply chain and a proprietary tech stack, ANNY says that it ensures speed, efficiency, and customer delight at every step. The startup aims to become the go-to fashion destination for women across India by combining agility, innovation, and a deep understanding of style and culture. โ€œOur vertically integrated model, coupled with real-time trend responsiveness, allows us to minimize inventory risk and maximize consumer joy. With Atomic Capitalโ€™s backing, weโ€™re not just scaling faster, weโ€™re scaling smarter. This investment fuels our ambition to become over Rs 100 crore ARR brand by next year and drive a true movement in Indiaโ€™s fashion-tech landscape,โ€ said Japjot Singh, founder and CEO of ANNY. Over a year, the brand claims to have scaled 8X, driven by a vertically integrated model, trend-led design, and deep consumer insight. Now expanding into new categories, it aspires to redefine how Indian women discover and shop fashion-forward, smart, and effortlessly stylish.

CredAble raises Rs 30 Cr from SIDBI

EntrackrEntrackr ยท 1y ago
CredAble raises Rs 30 Cr from SIDBI
Medial

Fintech startup CredAble has raised Rs 30 crore ($3.6 million) in debt funding from SIDBI. The fund will be used to scale up its operations and extend affordable financing solutions to MSMEs and women-led businesses in India, CredAble said in a press release. Founded in 2017 by Nirav Choksi and Ram Kewalramani, CredAble provides working capital to large, mid, and emerging corporates, as well as micro, small, and medium enterprises (MSMEs), and financial institutions. Beyond traditional banking and loan products, the company has built a comprehensive working capital infrastructure for digitising corporate-led financing and underwriting needs. CredAbleโ€™s platform hosts over 125 corporate customers, over 3,50,000 small business borrowers, and more than 35 large financial institutions and banks. The company recently had dedicated Rs 200 crore to back women-led enterprises and has supported more than 50 such businesses across India over the course of 10 months. In March, CredAble raised $10 million in a new round from Singapore-based Equentia Natural Resources. It has raised nearly $60 million to date. CredAbleโ€™s revenue from operations grew 2.78X to Rs 13.94 crore in FY23 from Rs 4.92 crore in FY22. In pursuit of growth, the losses of the company surged 3.37X to Rs 22.40 crore in FY23 from Rs 6.53 crore in FY22.

EV financing startup Perpetuity Capital raises Rs 7 Cr

EntrackrEntrackr ยท 1y ago
EV financing startup Perpetuity Capital raises Rs 7 Cr
Medial

Perpetuity Capital, a fintech platform specializing in clean-tech mobility, has raised Rs 7 crore through Non-Convertible Debentures (NCDs) from N+1 Capital and RevX Capital. Perpetuity Capital plans to utilise these funds to enhance its lending capabilities and expand its loan book, particularly focusing on the regions of East India. This strategic move is aimed at promoting the adoption of environmentally friendly mobility solutions in these states. Led by Karamveer Dhillon, Perpetuity Capital helps delivery drivers and autorickshaw drivers avail finance to purchase electric vehicles for commercial use. In October 2023, Perpetuity Capital raised Rs 5 crore in debt from Clime Finance. In the electric vehicle financing space, Perpetuity Capital competes with Vidyut, Revfin, Finayo, Mufin Green Finance, OTO, evfin, and Hero FinCorp, among others. Revfin raised $14 million in Series B round led by Omidyar Network in December whereas Vidyut raised $10 million in February this year.

ELIVAAS raises Rs 87 Cr in Series B round led by Vertex Ventures

EntrackrEntrackr ยท 17d ago
ELIVAAS raises Rs 87 Cr in Series B round led by Vertex Ventures
Medial

ELIVAAS raises Rs 87 Cr in Series B round led by Vertex Ventures Luxury vacation rental platform ELIVAAS has raised Rs 87 crore (approximately $10 million) in Series B funding led by Vertex Ventures Southeast Asia & India, with participation from existing investors Peak XV Partnersโ€™ Surge and 3one4 Capital. Entrackr had exclusively reported the development in April this year. In April 2024, the company raised $5 million in Series A funding led by 3one4 Capital, with participation from Peak XV Partnersโ€™ Surge and angel investors. The fresh proceeds will be used to expand its presence in India, prepare for entry into global markets, and invest in technology to scale operations. Sources indicate the company may have crossed Rs 500 crore in valuation. Founded in 2023 by Ritwik Khare and Karan Miglani, ELIVAAS manages luxury villas and apartments for short-term rentals. The platform serves both homeowners, by monetising and maintaining their properties, and travellers, by providing access to premium vacation accommodations. The company currently operates in 30 destinations across India and reported five-fold year-on-year revenue growth in FY25. While ELIVAAS has yet to disclose its FY25 numbers, the company recorded a revenue of Rs 7 crore and a loss of Rs 10.4 crore for the fiscal year ended March 2024, according to startup data intelligence platform TheKredible. Vertex Ventures Southeast Asia & India is an early-stage venture capital firm that partners with startups across Southeast Asia and India. It has invested in companies including Grab, FirstCry, Nium, Licious, Kuku FM, and PatSnap, supporting their growth across multiple sectors.

Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round

EntrackrEntrackr ยท 7m ago
Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round
Medial

Bubble tea brand Boba Bhai, a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 30 crore (around $3.4 Mn) in its Series A round led by 8i Ventures. The round also saw participation from existing backers, including Titan Capital Winners Fund, Global Growth Capital, and DEVC among others. Earlier, the startup raised Rs 12.5 crore in its seed round led by Titan Capital and Global Growth Capital UK. The proceeds will be used to expand to new cities, scale operations, and introduce innovative menu offerings. Founded by Dhruv Kohli, Boba Bhai currently has 42 outlets in nine cities and plans to open over 150 stores by the end of the year. Approximately 70% of orders are generated through its website and platforms like Zomato, Swiggy, and ONDC.

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