RockClimber, an alcoholic beverage brand, has raised $1 million in pre-Series A funding from angel investor Anand Prakash Sharma.

RockClimber is a new age beverage brand with a portfolio of alcoholic and non alcoholic drinks.

“The majority of the funds will be used for working capital,” said Deepak Poduval, co-founder of RockClimber. He stated that the company, which has a franchise of crafted wine cooler-alcoholic beverages, mixers, and other wine-based beverages, is aiming for a revenue of more than Rs100 crore in three years.

“The commercial wine and beer sectors are up for disruption as consumer palates are changing,” Poduval said. “The shift towards natural beverages that are priced in the value segment is happening, with younger consumers preferring fruity carbonated lower-priced wines.”

According to him, wine coolers are rapidly eroding the strong-beer market as consumers prefer more convenient wine options to traditional offerings.
According to industry estimates, India's wine market is worth $150 million and growing at a rate of 20-25 percent per year. When compared to beer, affordable wine is gaining popularity among younger consumers due to technology that allows for a longer shelf life and a broader portfolio of flavours.