In A Can
Initial Ask – Rs. 50 lacs for 2% equity at a valuation of Rs. 25 Cr.
About the Company
Aiming to become the 1st brand in the cocktail segment in India, this company has launched 5 globally loved flavours of ready to drink cocktails which are formed by standardized methods and have standardized taste. Currently operating in Goa and Uttar Pradesh markets, they have their manufacturing unit established in Goa.
They outsourced their packaging from another small startup, which came up with the innovative design that they have. This will help them a lot in their brand building process. Well known with the huge demand of canned cocktails globally, they have already catered to the markets of Africa and Dubai. Having a month on month growth of around 40%, they even have plans to launch cocktail mixers, which will provide them humongous reach.
Past performance of the Company
The company earned Rs. 60 lacs from its inception till November 2021, of which they made around Rs. 23 lacs in the month of October 2021. They have an impressive selling price of Rs. 140 per can, which is manufactured in Rs. 55. Still, they currently enjoy just 7% in margins.
Industry Overview
The global ready to drink (RTD) market for cocktails is expected to grow at a CAGR of 12% till 2028. This industry has been fueled recently because of the at-home cocktail culture during pandemics. Additionally, increased concerns for health, convenience, and the enhanced quality and diversity of RTD cocktails act positively for this segment. In terms of packaging, the cans segment also has a growing demand as convenient and easy-to-carry, on-the-go packaging.
However, there isn’t any brand in India catering in this segment till now. We have a lot of cocktail mixers in the market, but not RTD cocktails, thus giving this company an edge. The growth estimates of 10.29% CAGR of this segment in India will act positively for this.
Previous Equity Split/Investments
They have raised Rs. 1.1 Cr. from friends and family till now, having a valuation of 10 Cr.
Offers made, and the one accepted:
All sharks namely, Anupam Mittal, Peyush Bansal, Namita Thapar, Ashneer Grover & Aman Gupta came together and offered a deal of Rs. 1 cr. for 10% equity of the company. The deal was closed at this offer itself!