Radiohead Brands Secures 12Cr, Closes 35Cr Pre-Series A Round

Gurgaon based startup, Radiohead Brands is renowned for its flagship brand Jimmy’s®, has declared the conclusion of its Pre-Series A round, totaling 35 crore.

The funding was spearheaded by Prath Ventures, Capital Ventures, and Illeyrium Ventures, attracting notable participation from angel investors such as Neel Bahl and Sandeep Aggarwal from Droop (formerly associated with ShopClues).

This round also welcomed contributions from existing investors.

“The company’s products under Jimmy's brand have huge customer love and are well accepted by the trade. They have now entered the rapidly expanding market of Energy drinks through the introduction of Hustle Energy drink. We believe the company is set to emerge as a leading premium beverage player in a few years with a diversified portfolio of brands and products.” said Piyush Goenka, Founder, Prath Ventures.

The company recently revealed its evolution into a diversified beverage brand, extending its product range beyond Jimmy’s® Cocktails and Sparkling Mixers.

As a part of this initiative, the company introduced 'Hustle' Energy drink, aiming to revolutionize the rapidly growing Energy Drinks sector.

This strategic expansion of their portfolio mirrors the brand's aspiration to cultivate the premium beverage market in India.

Established in 2019 by Ankur Bhatia & Nitin Bhardwaj, the initial brand, Jimmy’s®, asserts its leadership among startups in its sector, having served more than 12 million drinks in FY’23.

“I want to welcome our new investors and thank our existing investors for their continued faith in us. For this round we had very high interest from prominent VCs ranging from $8M - $10M however we weren’t able to accept that as we do not believe in a high burn high growth business model. We have an eclectic mix of people on our cap table who like us, believe in a sustainable and profitable approach to building our brands.” said Ankur Bhatia, Founder and CEO Radiohead Brands.

In March 2022, Radiohead Brands secured 14 crore in a funding round led by Roots Ventures as an extension of their Pre-Series A funding.

To facilitate the launch of their new Energy Drink, the company expanded their Pre-Series A by an additional 20 crore, conducting this extension in two phases: the initial one occurring in June 2023, followed by the most recent one.

The company aims to venture into various untapped market segments within the beverage industry over the coming years.

The company's goal is to achieve a revenue run-rate of 100 crore by the next year, with a broader ambition of becoming a 1000 crore revenue enterprise within the decade.