Gurugram-based cocktail mixer startup raise USD 350,000 seed funding

New Delhi, Jun 11 () Gurugram-based Jimmy's Cocktails, a cocktail mixer startup, on Thursday said it has raised USD 350,000 (around Rs 2.65 crore) in seed funding and plans to use the funds to broaden its product offerings and expand distribution footprint.

The funding round was led by Ekcle Ventures. Vidur Talwar, Chairman T&T Motors and Angad Bhatia CEO Indiatimes Lifestyle Network, Times Internet, were among those who participated in the fund raising round, the non-alcoholic cocktail start-up said in a release.

Anirudh Somani, one of the investors associated with Ekcle Ventures, is joining the company board following the funding round.

Launched in September 2019, the brand was available at 200 retail touchpoints in Delhi/NCR prior to lockdown in the wake of the COVID-19 pandemic.

"Given the situation, the founders fast-tracked and launched direct to consumer sales from their own website," it said.

Ankur Bhatia, Founder and CEO of Jimmy's Cocktails said the company plans to use the funding to expand distribution, hire talent and on new product development.

"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. To add to this, home parties and DIY cocktails are now likely to become more of a necessity than a desire," Somani said. NKD MR