by Jimmy’s Cocktails, a Gurugram-based ready-to-drink (RTD) cocktail brand, has secured $3 million in extended pre-Series A funding led by Prath Ventures. The round also saw participation from existing investors such as Vijay Shekhar Sharma of Paytm, Neel Bahl, and existing investors Keki Mistry (HDFC), Vishesh Khurana (Shiprocket), 7Square Ventures, Vidur Talwar, and Anirudh Somani.
Founded in 2019 by Ankur Bhatia and Nitin Bhardwaj, Jimmy’s Cocktails offers a range of RTD cocktails that are made with fresh ingredients and are free of artificial flavors, colors, and preservatives. The company’s products are available in four flavors: Mojito, Margarita, Cosmopolitan, and Old Fashioned.
Jimmy’s Cocktails will use the funds raised in the extended pre-Series A round to expand its product line, build its brand, and increase its distribution network. The company also plans to enter new markets.
“We are excited to partner with Prath Ventures and other investors in this round of funding,” said Ankur Bhatia, co-founder and CEO of Jimmy’s Cocktails. “This investment will help us accelerate our growth and reach more consumers across India.”
Amit Jain, managing partner at Prath Ventures, said, “We are impressed by the team’s focus on product quality and customer experience. We believe that Jimmy’s Cocktails has the potential to become a leading RTD cocktail brand in India.”
The RTD cocktail market in India is growing rapidly. The market is expected to reach $10 billion by 2025. Jimmy’s Cocktails is well-positioned to tap into this growing market. The company has a strong product line and a distribution network that is expanding rapidly.
