India’s largest integrated accelerator and incubator Venture Catalysts has led a $1 million pre-series A funding round in fusion beverages start-up, Raskik. Felix Advisory LLP acted as financial advisor on the deal.
Accelerator fund 9Unicorns, also participated in the round along with the backing of some key angels and corporate investors such as, Syed Safawi (Ex-CEO Reliance Communications), Snapdeal’s founders Kunal Bahl and Rohit Bansal, Santosh Desai (MD & CEO Future Brands), ANAA International LLC, Amit Jain (CEO L’Oreal India) Promoters of Sapient Wealth, Neeraj Mutha (Director, Mutha Industries Pvt Ltd) and EvolvX Advisory LLP.
The start-up founded by Vikas Chawla, Abhay Parnerkar, and Satyajit Ram is a millennial centric brand, delivering a portfolio of unique natural fusion beverages at mainstream prices.
Currently, the start-up is present in select areas of Delhi NCR with 3 variants of coconut water & fruit juice fusions across a cross-section of channels i.e. general trade, local MT chains, and e- grocers like MilkBasket and BigBasket. With fresh funds in the kitty, Raskik plans to expand its geographical presence in India and seeks to develop best in class consumer intimacy with millennials who are looking for natural and good-for-you options, to create a highly loved brand.
On closing the first round, Raskik’s founder Vikas Chawla said in a statement that, “At Raskik, we are creating a vibrant brand and are driven by our purpose of helping people live better by providing a portfolio of natural, great tasting fusion beverages. It is our belief that with our deep experience in this industry and a highly capable ecosystem of partners, we will delight our consumers with great quality, innovative beverages”
With over 50+ years collective experience in global beverage brand Coca Cola, where they held key leadership positions globally, the founders of Raskik have created a partner ecosystem of industry-leading suppliers & contract manufacturer. These relations have enabled the team to achieve high quality product and packaging while delivering a ‘value for money’ proposition to consumers.
The Raskik team has had diverse, multi-continent experiences of launching and building new beverage brands / categories and scaling those brands / businesses to achieve multi-million dollar revenues. This start-up has a solid mix of cross-functional leadership experiences, passion for learning, humility to listen to consumers & trade, and a deep hunger to succeed. The founders also deeply and passionately believe in ‘giving back’ by creating an enterprise that, over time, will make a significant and meaningful impact in the communities they operate in.
“The growing $2 billion fruit juice category has huge opportunities and the domain experienced founders at Raskik have found a sweet spot that could be developed into a category on its own. We at 9Unicorns are elated to back Raskik’s product journey,” said Abhijeet Pai, Partner at 9Unicorns.
Anuj Golecha, Co-Founder at Venture Catalysts said, “We are elated to lead the funding round for fusion beverage brand Raskik. While we believe in the growth of the natural fruit juice category in India, we also have immense faith on the ability of the founders who have a deep understanding about the category given their vast experience in Coca-Cola. We wish the founders all the best.”