Non-alcoholic beer brand Coolberg secures Series A funding of $3.5 mn

At present, the brand has distribution networks across major Indian cities, with 12,000 outlets across states including Bihar, Maharashtra, Punjab, Haryana, UP, Jharkhand, Goa, Karnataka, Telangana, West Bengal, and Rajasthan.
  • Vaishnavi Gupta News Editor
Coolberg

Coolberg has secured $3.5 million in Series A funding round led by RB Investments (Singapore-based family office) and its existing investor, India Quotient. Ashish Goenka, Chairman of Suashish Diamonds Ltd, and a pool of investors from Indian Angel Network (IAN) have also participated in the round.

Coolberg was started by Pankaj Aswani and Yashika Keswani in 2016. The brand operates in the premium soft beverages category, catering to those who do not want to consume alcohol due to religious and cultural beliefs and lifestyle or health choices but still wish to enjoy premium beverages.

The offerings of Coolberg include non-alcoholic beers in flavours such as malt, ginger, mint, and strawberry.

Yashika, Co-founder and COO, Coolberg, said, “The Indian beverage market is witnessing an interesting transformation with an increased demand for new flavours. All our variants are unique, refreshing, and new to the market. Our R&D team is strong and keeps a close eye on consumer needs.”

Earlier, Coolberg had raised an undisclosed seed funding in 2018 from venture capital firm India Quotient and IAN’s maiden fund.

Pankaj, Co-Founder of Coolberg, added, “Basically, anywhere you find a cola, we want you to be able to find a Coolberg as well.” He added that the fresh investment would help the company to strengthen its distribution network and enhance brand awareness.”

At present, the brand has distribution networks across major Indian cities, with 12,000 outlets across states including Bihar, Maharashtra, Punjab, Haryana, UP, Jharkhand, Goa, Karnataka, Telangana, West Bengal, and Rajasthan.

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