Mumbai based non-alcoholic beer brand Coolberg, which makes malt based non-alcoholic drinks in a variety of flavors, has secured a 3.4 million USD in Series-A round led by Singapore based investor RB Investments and existing Indian investors India Quotient. The rounds also witnessed the participation of Ashish Goenka, Chairman of Suasish Diamonds Pvt. Ltd., and investors from the Indian Angel Network. According to Pankaj Aswani, founder of Coolbergh Beverages “Basically anywhere you find a Cola, we want you to be able to find a Coolberg as well”.

He further added, “Raising this investment will help us strengthen our distribution network and increase brand awareness”.

“The Indian beverage market is witnessing an interesting transformation with an increased demand for new flavors. All our variants are unique, refreshing and new to the market. Our R&D team is strong and keeps a close eye on consumer needs”, - a statement released by Co-founder and Chief Operating Officer, Yashika Keswani. A partner at Indian Quotient further said, “IQ is excited to lead the Series-A round at Coolberg. We are very happy with the growth in revenue as well as the buzz around the brand in the served cities.”
Coolberg was founded by Pankaj Aswani and Yashika Keshwani with a vision of creating a new category of non-alcoholic drinks, which serves as an alternative to fizzy drinks such as Cola. Coolberg operates in the soft beverages category. Coolberg is available in 12,000 outlets spread across the nation. Besides traditional markets like supermarkets and restaurants, Coolberg is also available at offices, colleges, and airports. At present Coolberg is brewing 7 different flavors of drinks – Malt, Cranberry, Ginger, Mint, Strawberry, Peach and Java Malt.