Radiohead Brands, the company responsible for Jimmy’s Cocktails and Mixers, raised Rs 35 crore in its latest pre-Series A funding round. Prath Ventures led the investment round, joined by Capital Ventures, Illeyrium Ventures, and prominent angel investors Neel Bahl and Sandeep Aggarwal from Droom. This funding round builds upon the earlier Rs 11 crore raised in July this year, which came from Vijay Shekhar Sharma and Prath Ventures.

The company specializes in premixed cocktails and effervescent mixers like tonic water and ginger ale, competing with well-established brands like Sepoy & Co., Franklin & Sons, Svami, and Jade Forest in the non-alcoholic beverage sector. Ankur Bhatia, the Founder and CEO, emphasized the firm's dedication to sustainable brand development, emphasizing cash flow, no credit sales, and profitability on a per-account basis. Co-Founder Nitin Bhardwaj serves as the COO.

Radiohead reported gross revenues of Rs 80 crore for FY23 and aims to reach Rs 100 crore by the end of the current fiscal year, targeting profitability in the upcoming year. Piyush Goenka, Prath Ventures' founder, praised the company's branding strategies and distribution methods, envisioning its evolution as a leading player with a diverse range of products.

The Indian non-alcoholic beverage market is predicted to witness significant growth, projected to hit Rs 1.47 trillion by 2030 at a compound annual growth rate (CAGR) of 8.7%, as per the Indian Council for Research on International Economic Relations (ICRIER). This anticipated growth contrasts sharply with the pre-pandemic Rs 67,100 crore market in 2019, covering soft drinks, juices, bottled water, and fruit-based beverages.