Beverage brand Bored Beverages has raised over Rs 2.5 Cr in a seed round led by Inflection Point Ventures, alongside private investors Bhawana Bhatnagar, Founder – WeFounder Circle, Soumya Kant, Co-Founder – Clovia, and the Dot In network.
“India, as a market for alcohol consumption, has steadily increased. The younger population – Gen-Z and Millennials – want to explore and expect unique combinations to be served. We believe Bored Beverages has understood this market need and is ready to roll out a beverage line that suits the palate and makes the experience enjoyable and dignified,” said Mitesh Shah, co-founder of Inflection Point Ventures.
Prabhtej Singh Bhatia, founder of Simba Beer, will join the adventure of creating Bored Beverages as a strategic investor and mentor.
JFunds raised will be used for team expansion and scaling up sales and marketing operations and will also be used to establish a well-defined distribution channel and build the brand in the market.
Bored Beverages is building a cross-category portfolio of alcoholic beverages for Millennials and Gen Z by offering new brands with different flavors and different alcohol percentages, using a variety of traditional and non-traditional ingredients.
Their first product on the market – No Label is mead, which is an alternative alcohol made from fermenting honey.
Started by two childhood friends Vinayak Malhotra (sales and marketing, finance and strategy management) and Anant Gupta (production, product innovation and brand marketing management), Bored Beverages is currently available in four cities: Delhi, Gurgaon, Mumbai and Pune.
The brand plans to establish a foothold in the ready-to-drink liquor market by leveraging its distinctive marketing strategy, effective go-to-market techniques and inventive product pipeline.
“The seed funding will play a pivotal role in realizing Bored Beverages’ vision of breaking the monotony of traditional alcohol in the Indian market. With No Label Mead as the first product towards creating a cross-category holding company, we plan to bring new alcohols and flavors to market for consumers,” added Vinayak Malhotra, co-founder of Bored Beverages. .
The global mead market is growing rapidly at a CAGR of 18.7% to reach $1,621 million by 2028. The global ready-to-drink market is growing at a higher rate than that of spirits , wine and beer, signaling a major shift in consumer interest in this category across all demographics. The high demand for flavored alcoholic beverages and the adoption of low-alcohol beverages are expected to fuel the ready-to-drink liquor industry and outperform all alcoholic beverages. USA is the fastest growing and trending category.