Jimmy's Cocktails extends pre-Series A led by Prath Ventures

Jimmy's Cocktails, owned and operated by Radiohead Brands, has extended its pre-Series A round to $3 million. The round was led by Prath Ventures with participation from Paytm founder Vijay Shekhar Sharma, Neel Bahl, existing investors Keki Mistry, Vishesh Khurana, 7Square Ventures, Vidur Talwar and Anirudh Somani.

The company had earlier raised Rs 14 crore ($1.8 million) in April last year in an investment round led by Roots Ventures. 

Co-founded in 2019 by Ankur Bhatia and Nitin Bhardwaj, Jimmy's has broadened its offerings beyond cocktails and sparking mixers as it introduced ‘Hustle’ to foray into energy drinks category. The four-year-old Gurugram-based says that its valuation grew 3X over last year and 20X over the last three years since it started its operation.

Holding company Radiohead aims to reach Rs 100 crore revenue run-rate within this year with an ambition to build a Rs 1,000 crore revenue company within the decade. The company claims that its revenue grew over 75% in FY23 and the brand Jimmy’s is now available at over 20,000 retail outlets, wine shops, and prominent bars in over 50 cities, as well as all leading e-commerce platforms.

The brand also operates a D2C business delivering from their website DrinkJimmys.com to over 400 cities in India.