Coolberg Beverages Private Limited is a non-alcohol beverage company. The Mumbai-based start-up is India’s first crafted zero alcohol beer. Founded in 2016, By a former chartered accountant and Citibank employee turned entrepreneur name Pankaj Aswani. The company currently sells 20,000 crates on a monthly average, with each crate carries 20 bottles of beverages.
The Beverages company has announced that It secured an undisclosed amount as core funding from India Quotient Fund and the Indian Angel’s Network maiden fund for future enlargement. The round led Anirudh Agrawal and Sanjay Mehta through Indian Angel Network and Madhukar Sinha from India Quotient. Agrawal and Sinha will soon join the board of Coolberg.
The company has made a room for itself by reaches to the part number of Indian audience which does not consume alcohol. The company offers multiple refreshing and unique flavors preferred by Indian consumers. Coolberg also provides good packaging considering the modern mannerism.
The idea for this unique start-up was developed by Pankaj Aswani and Yashika Keswani with a target to supply unique product to be enjoyed in celebrations, get together, hang-outs, etc. Non-alcohol beers have been grasping its market and audience and are estimated to cross $25 billion (INR 1.7 lakh crore) by 2024.
In an interview, Aswani said, “Generating these funds from Investing Quotient and Indian Angel’s Network fund will assist us in distributing brand awareness along with deeper market infiltration. Our target is to supply our customer a drink that is unique and special from what they’ve been consuming and thrust on for years. Indian consumers are more adaptable to new and quality products than ever before.”
Madhukar Sinha from India Quotient, “Non-alcoholic beer is comparatively a white space in the beverage segment in India. While visiting pubs and cafes for drinks is a fast grasping trend by Indian millennials, the selection for beverage especially for people who do not prefer alcohol is very confined. Coolberg has the freedom to construct itself as the first choice drink of all non-alcoholic audiences.”
“Awareness in health concerns among consumers, an increase in the selection of a healthy lifestyle and the growth in the population of non-drinkers have encouraged the demand for such non-alcoholic beverages. These factors are presumed to have a niche segment forward. It serves to consumers around different categories such as; urban, rural., children, and adults. Coolberg ltd found a niche for itself in the exceptionally most competitive beverages industry. We are thrilled about the funding and that was obvious with the curiosity it garnered from multiple investors.”
Currently, Coolberg is available in states such as Maharashtra, Gujrat, Madhya Pradesh, South India, and North India. Over the past few years, the company has reached 30 plus major cities around the nation. Over 2,000 restaurants and cafes around the nation are selling over 10,000 crates a month, with almost two lakhs bottles per month. The company is planning to soon launch the 250 ml cans as well.
