Ekcle Ventures leads seed funding round for Jimmy’s Cocktails

The challenger brand makes alcohol-free, low-calorie ready-to-drink mixers and plans to use the fresh capital to expand distribution

Jimmy’s Cocktails, the alcohol-free drink by Radiohead Brands of India, has secured seed capital in a funding round led by Ekcle Ventures. A challenger brand, Jimmy’s Cocktails makes low-calorie ready-to-drink mixers infused with natural flavours.

The company said in a statement that participants in the seed round included Vidur Talwar, managing director at Mercedes-Benz T&T Motors, and Angad Bhatia, operations chief of Indiatimes Lifestyle Network. The investment round was managed by Ekcle Advisory Services.

Based in Gurgaon, a city located southwest of New Delhi, Jimmy’s Cocktails claims its mission is to make premium cocktails accessible to everyone.

The product range encompasses the most popular contemporary cocktails in a ready-to-drink version and mixers are made with natural flavours and low sugar.

The seed round secured $350,000 (Rs 2.64 crore), which Jimmy’s Cocktails will utilise to expand its product offering and distribution.

Cocktails lockdown-ready

Jimmy’s Cocktails hits the shelves in India in September 2019, driven by co-founders Ankur Bhatia, Mirza Baig and Nitin Bhardwaj. 

Prior to the Covid-19 lockdown, the brand was available at 200 retail outlets in Delhi/NCR. Priced at Rs 99 for a 250 ml bottle, the cocktails are positioned at the premium end of the market.

The founders reacted quickly to the ‘new normal’ and established a direct-to-consumer channel on the website jimmyscocktails.com to keep sales in the upward trend.

Experienced management

The trio of founders is well connected in the lifestyle, events and drink sectors.

Bhatia co-founded the men’s lifestyle magazine MensXP and has worked with spirits brands like Teacher’s Scotch Whisky and Jim Beam. Bhardwaj has previously worked with energy drink maker Red Bull, and Baig has several ventures under his belt, including a marketing agency and festival organiser.

“Jimmy’s is in a unique space at a unique time. We found the business interesting as they have a first-mover advantage and are being guided by experienced industry hands,” Anirudh Somani of Ekcle Ventures told Business World, an India-focused media.

Somani, who will be joining the company’s board, noted demand is likely to go up as “home parties and DIY cocktails are now likely to become more of a necessity than a desire”.

Eckle Ventures invests in early and growth-stage start-ups while Ekcle Advisory Services helps start-ups on fundraising and investor relations.