InACan: Shark Tank India Success Story, Funding, and Expansion in Cocktail Market

InACan is a company that was founded in 2020 during the COVID-19 pandemic, when bars and restaurants were shut down. The founders, Sameer Mirajkar and Viraj Sawant, were looking for a way to enjoy high-quality cocktails at home without the hassle of sourcing all the ingredients. These canned cocktails contained a mix of high-quality, premium ingredients without compromising on taste. The cocktail variants they offered included rum latte, whiskey collins, gin & tonics, and more. The cocktails are low-calorie, have a high level of refinement, and use special ingredients to provide a unique and satisfying drinking experience. The founders went through a 9-month, 15,000 km journey across 3 states to develop the perfect cocktail recipes, packaging, and production process. Varun Sudhakar, a renowned bartender and product development expert, heads the product innovation at InACan.

Related: Skippi Ice Pops Achieves 40X Sales Surge After Shark Tank Debut

Viraj and Sameer pitched their ready-to-drink cocktail business on the popular TV show Shark Tank India. All five Shark Tank judges liked their business idea and decided to invest ₹1 crore  together in exchange for a 10% equity stake in the company.

• After securing the investment from the Sharks, the company expanded its operations to several states in India, including Maharashtra, Pondicherry, Goa, and Uttar Pradesh.
• The company’s monthly sales reached ₹60 lakhs (6 million Indian rupees), and it was experiencing a growth rate of 40% every month.

InACan operates in the business-to-consumer (B2C) space, providing products or services related to the food and agriculture industry, as well as the broader consumer goods market. This suggests that InACan’s offerings are targeted towards individual consumers, rather than other businesses or organizations.

They have raised a total of $132,000 in funding so far. This funding was raised in a single round, which was an Angel round. The Angel round took place on January 20, 2022. In this latest $132,000 Angel round, 5 investors participated:

• Ashneer Grover
• Aman Gupta
• Namita Thapar
• Anupam Mittal
• Peyush Bansal

InACan has a mix of institutional and angel investors providing financial backing for the company. The two institutional investors are IVY Growth Associates and Thapar Vision, which are organizations that pool money to invest in companies. Additionally, InACan has 5 angel investors, which are wealthy individuals who provide early-stage funding to startups, including the named investor Anupam Mittal along with 4 other unnamed angel investors.

InACan has a total of 8 competitors in the market. InACan ranks 7th among its competitors. InACan and its 8 competitors have collectively raised over $7.61 million in funding across 18 funding rounds, involving 195 investors. Bellow is the list of top 3 competitors of InACan:

• O’ Be: Brand of cocktail
• Salud: Brand of ready-to-drink alcoholic beverage products
• DesmondJi: Ready-to-drink beverages brand

Aspiring entrepreneurs from across India come to Shark Tank India to present their innovative ideas and business models, hoping to secure the investment needed to take their startups to the next level.