Bengaluru’s Mocktail Startup Swizzle Raises Seed Funding to Fuel Expansion

Bengaluru, India – Swizzle, the innovative Made-in-India mocktail provider, has announced a successful seed funding round, securing investment from a consortium of angel investors. The undisclosed amount, led by existing investor Mrs. Monika Rao, marks a significant milestone for the startup. Dr. Akshay Singhal, Founder & CEO of Log9 Materials, along with new investors Mr. Deepak Gambhir and Sri Harsha Thota, also participated in the equity-based seed investment round.

Co-Founders Vrinda Singhal and Deepender Singh expressed their excitement about the funding, 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,” said Vrinda Singhal and Deepender Singh, Co-Founders of Swizzle, as per industry quotes from Startup Story Media.

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.

Key Highlights:

• Bengaluru’s Swizzle secures undisclosed seed funding from angel investors, led by Mrs. Monika Rao.
• Swizzle aims for 1000+ locations by August 2024, utilizing funds for expansion.
• The startup targets Rs 15 Crore revenue by FY 2025 with natural beverages.
• Expanding rapidly, Swizzle eyes 3000+ retail locations by year-end.

Expansion Plans and Strategy

The funds raised will play a crucial role in expanding Swizzle’s presence in both B2C and B2B segments. Intending to be accessible in over 1000 locations by August 2024, the startup aims to reach new cities and bolster its 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 on Swizzle’s potential, stating, “Swizzle has demonstrated a unique ability to innovate and bring to market a range of high-quality mixers,” as per industry quotes from Startup Story Media.

Steady Growth and Future Projections

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.

Conclusion

With the recent seed funding secured, Swizzle is poised for rapid expansion and innovation within the Indian beverage industry. The startup’s commitment to providing high-quality, natural mocktails coupled with strategic growth plans positions it as a key player in the market. As Swizzle continues to scale its operations and reach, it aims to delight consumers across India with its refreshing and innovative offerings.