๐Ÿš€ Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. ๐Ÿ”ฅ
Login

News on Medial

Related News

Ready-to-drink cocktail startup Oโ€™ Be Cocktails raises funding from Inflection Point Ventures

IndianStartupNewsIndianStartupNews ยท 1y ago
Ready-to-drink cocktail startup Oโ€™ Be Cocktails raises funding from Inflection Point Ventures
Medial

Bengaluru-based startup O' Be Cocktails has raised an undisclosed amount in a pre-Series A funding round led by Inflection Point Ventures. The funds will be used to enhance capabilities, build a team, and expand into new markets. O' Be Cocktails offers a range of ready-to-drink craft cocktails made with high-quality spirits and natural ingredients. Currently operational in 9 states in India and Bhutan, the startup aims to lead the ready-to-drink category growth in India and Southeast Asia. The Indian alcoholic beverage market values at $35 billion, with the ready-to-drink category projected to grow at a rate of 10.29% in value and 12.15% in volume from 2021 to 2026.

Bhavish Aggarwal-backed O'Be Cocktails shuts operations

EntrackrEntrackr ยท 7m ago
Bhavish Aggarwal-backed O'Be Cocktails shuts operations
Medial

Bhavish Aggarwal-backed O'Be Cocktails shuts operations Bengaluru-based O'Be Cocktails used to claim that its cocktails were perfected through over a hundred iterations to deliver a consistent blend for consumers. Alcoholic beverages startup O'Be Cocktails has shut down its operations after operating for more than five years. โ€œIt was one of the most difficult decisions for myself to shut down the brand; however, in the long run, we couldnโ€™t justify the direction. After extensive retrospection and analysis, it all came down to one key realization: Alcobev is not a consumer-backed but a commoditized industry, which does not align with our vision of creating a premium and convenient cocktail experience for our consumers,โ€ said Nitesh Prakash, founder and chief executive of O'Be Cocktails in a Linkedin post. โ€œOver the past year, we have made every possible effort to find a suitable buyer for Oโ€™ Be ensuring the flow of cocktails doesn't stop, but we believe we have now exhausted all remaining possibilities for a sale,โ€ added Prakash. O'Be raised Rs 3.5 crore in an angel round led by First Cheque, Letsventure, Olaโ€™s Bhavish Aggarwal, Tracxn founder Abhishek Goyal, and Sprout Investments in August 2021. The Bengaluru-based startup also raised an undisclosed pre-Series A round led by Inflection Point Ventures in November 2023. O'Be Cocktails used to offer a variety of drinks available in Goa and Bengaluru. The brand used to claim that its cocktails were perfected through over a hundred iterations to deliver a consistent blend for consumers. O'Be Cocktails was operational in Bhutan and nine states of India. The company also said that it was supported by a network of 22 private distributors and 2 government contracts, making its products accessible in over 1,700 premium wine outlets.

Bhavish Aggarwal-backed O'Be Cocktails shuts operations

EntrackrEntrackr ยท 7m ago
Bhavish Aggarwal-backed O'Be Cocktails shuts operations
Medial

Bengaluru-based O'Be Cocktails used to claim that its cocktails were perfected through over a hundred iterations to deliver a consistent blend for consumers. Alcoholic beverages startup O'Be Cocktails has shut down its operations after operating for more than five years. โ€œIt was one of the most difficult decisions for myself to shut down the brand; however, in the long run, we couldnโ€™t justify the direction. After extensive retrospection and analysis, it all came down to one key realization: Alcobev is not a consumer-backed but a commoditized industry, which does not align with our vision of creating a premium and convenient cocktail experience for our consumers,โ€ said Nitesh Prakash, founder and chief executive of O'Be Cocktails in a Linkedin post. โ€œOver the past year, we have made every possible effort to find a suitable buyer for Oโ€™ Be ensuring the flow of cocktails doesn't stop, but we believe we have now exhausted all remaining possibilities for a sale,โ€ added Prakash. O'Be raised Rs 3.5 crore in an angel round led by First Cheque, Letsventure, Olaโ€™s Bhavish Aggarwal, Tracxn founder Abhishek Goyal, and Sprout Investments in August 2021. The Bengaluru-based startup also raised an undisclosed pre-Series A round led by Inflection Point Ventures in November 2023. O'Be Cocktails used to offer a variety of drinks available in Goa and Bengaluru. The brand used to claim that its cocktails were perfected through over a hundred iterations to deliver a consistent blend for consumers. O'Be Cocktails was operational in Bhutan and nine states of India. The company also said that it was supported by a network of 22 private distributors and 2 government contracts, making its products accessible in over 1,700 premium wine outlets.

Prath Ventures secures Rs 120 Cr in second close, makes three Investments

EntrackrEntrackr ยท 1y ago
Prath Ventures secures Rs 120 Cr in second close, makes three Investments
Medial

Venture capital firm Prath Ventures has raised Rs 120 crore in a second close co-led by SIDBI Funds and others. The fund will seek to deliver Indian consumption opportunities to its LPs while adhering to the standards of institutional fund management, Prath Ventures said in a press-release. According to a Morgan Stanley report, Indiaโ€™s consumption is expected to surpass $4 trillion by 2030. Co-founded in 2022 by Piyush Goenka and Harmanpreet Singh, Prath Ventures invests in digital consumer businesses and their enablers. It focuses on the seed to Series A stage and has made three investments which includes beverage maker Jimmyโ€™s Cocktails and yet to be announced investments in consumer brands in the lifestyle and travel sector. According to the Mumbai-based company, it leverages its industry experience and network to support early-stage startups in scaling their businesses and achieving sustainable growth. The platform integrates private equity-style rigour and deep portfolio management into its investment approach. The company has backed over 20 startups including Believe Pte, Style Bazaar, Mosaic Wellness, Gokwik, Falcon, Lysto, BridgeUp and others.

Exclusive: Fintech startup CheQ closes new round at $6.7 Mn

EntrackrEntrackr ยท 1y ago
Exclusive: Fintech startup CheQ closes new round at $6.7 Mn
Medial

Credit card bill payment management platform CheQ has secured Rs 18.5 crore (around $2.2 million) additional proceeds in its extended seed round. This is the second tranche of the round for the Bengaluru-based company. The new tranche came after a month of its $4.5 million extended series round. Entrackr was the first to report the development last month. The board at CheQ has passed a resolution to allot 6,855 Seed 1 CCPS at an issue price of Rs 26,988.91 each to raise Rs 18.50 crore, its regulatory filings accessed from the RoC shows. Lloyd Dizon and Zenaida Dizon Balajadia invested Rs 4.16 crore each while Sherpalo LLC (a venture by Ram Shriram), Hitesh Gupta, and Amit Lakhotia participated with Rs 8.32 crore, 10 lakhs, and 25 lakhs respectively. As per filings, the company will use these funds for growth, expansion, marketing, and general corporate purposes as decided by the board. According to startup data intelligence platform TheKredible, the company has been valued at around Rs 460 crore or $55.4 million (post-money) after the fresh tranche of the extended seed round. Founded in 2022 by Aditya Soni, CheQ helps customers simplify the discovery and management of all credit products and allows you to pay your credit card bill, and EMI on a single platform. The startup has raised over $17 million to date including its $10 million seed round led by Venture Highway and 3one4 Capital in June 2022. CheQ remained a pre-revenue stage firm with a revenue of only Rs 2 crore during the fiscal year ended March 2023. However, the losses for the three-year-old firm stood at Rs 19.4 crore in the same period. CheQ competes with fintech unicorn CRED which has secured around $1 billion to date and was valued at $6.4 billion in its last fundraise. According to the startup data intelligence platform TheKredible, it posted Rs 1,400 crore in revenue with a loss of Rs 1,347 crore during FY23.

Download the medial app to read full posts, comements and news.