Beverage brand Bored Beverages on Tuesday announced that it has raised over Rs 2.5 crore in a seed round led by Inflection Point Ventures, along with private investors Bhawana Bhatnagar, founder, WeFounder Circle, Soumya Kant, founder, Clovia, and from the Dot In Network. Prabhtej Singh Bhatia, founder of Simba Beer will be joining in the journey of building Bored Beverages as a strategic investor and mentor.
“The seed funding is going to play a pivotal role in achieving the vision for Bored Beverages which is to break the monotony of traditional alcohol in the Indian market. With No Label Mead as our first product towards building a cross-category portfolio company, we plan to bring to the market new alcohol and new flavours for consumers to experience. IPV recognised our play in the alco-bev sector,” Vinayak Malhotra, co-founder, Bored Beverages said.
As per the company, the funds raised will be utilised towards the expansion of the team and scaling of sales and marketing operations and will also be used towards establishing a well-set distribution channel and building the brand in the market.
“India as an alcohol consumption market has been steadily on a rise. The young population — Gen-Z, and Millennials – want to explore and expect unique combinations to be served. We believe Bored Beverages has understood this need of the market and is ready to roll out a range of beverages, which suits the palates and makes the experience pleasant and worthy. Going forward, we expect alternate alcoholic beverages to be a fast-growing segment and Bored Beverage has the right concoction to serve unique drinks to its target customers,” Mitesh Shah, co-founder, Inflection Point Ventures, stated.
Bored Beverages was incorporated in 2020. Currently, the first product in the portfolio of the Company – No Label Mead Original is available in four cities: Delhi, Gurgaon, Mumbai, and Pune. The brand plans to position itself in the ready-to-drink alcohol market on the back of its marketing strategy, effective on-market trade techniques, and an inventive product pipeline.
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