Radiohead Brands’ subsidiary, Jimmy’s Cocktails, has successfully extended its pre-Series A funding round to $3 million. The funding was led by Prath Ventures and saw participation from prominent investors, including Paytm founder Vijay Shekhar Sharma, Neel Bahl, and existing backers Keki Mistry, Vishesh Khurana, 7Square Ventures, Vidur Talwar, and Anirudh Somani. The cocktail and sparkling mixers company had previously raised Rs 14 crore ($1.8 million) in an investment round led by Roots Ventures in April of the previous year.

Co-founded by Ankur Bhatia and Nitin Bhardwaj in 2019, Jimmy’s Cocktails has expanded its product offerings beyond cocktails and sparking mixers by introducing ‘Hustle’ to venture into the energy drinks category. The Gurugram-based startup, which is now four years old, has witnessed remarkable growth with its valuation increasing threefold over the past year and 20 times over the last three years since its inception.

Under the umbrella of holding company Radiohead Brands, the company aims to achieve a revenue run-rate of Rs 100 crore within the current year and has ambitious plans to become a Rs 1,000 crore revenue company within the next decade. In FY23, Jimmy’s Cocktails reported a revenue growth of over 75%. Its brand, Jimmy’s, has now expanded its presence to over 20,000 retail outlets, wine shops, and prominent bars across more than 50 cities, in addition to leading e-commerce platforms.Furthermore, the brand operates a successful direct-to-consumer (D2C) business, delivering its products through the website DrinkJimmys.com to over 400 cities in India.