Jimmy's cocktail makers launch new energy drink Hustle
The new energy drink Hustle plans to penetrate and capitalise on the markets potential after rival brand PepsiCo India’s Sting’s success.
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Radiohead Brands, the parent company of Jimmy’s Cocktails has raised Rs.11 crore in a pre-series A funding round from PayTM’s founder and CEO Vijay Shekhar Sharma and investment firm Prath ventures. The raised capital will be directed towards the expansion of its new energy drink Hustle.
Currently, Radiohead Brands makes cocktail premixes and sparkling beverage mixers like tonic water, ginger ale and other popular flavours. Ankur Bhatia, the founder of the company said that that their new energy drink Hustle plans to penetrate and capitalise on the markets potential after rival brand PepsiCo India’s Sting’s success. Hustle will be competitively priced between Rs.50 and Rs.100.
The pre-series A funding round also saw interest from angel investor Neel Bahl as well as existing investors including HDFC’s Keki Mistry, Shiprocket’s Vishesh Khurana, 7Square Ventures, T&T Motors’ Vidur Talwar and CLSA’s Anirudh Somani. The company has previously raised Rs. 14 crore in an investment round led by Root Ventures in March last year.
As per company statements, Hustle has a potential to reach ₹40 crore in gross revenue in less than a year.
