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The Gurgaon-based startup, Radiohead Brands, known for the popular brand Jimmy’s®, has undergone a significant transformation by expanding into a multi-beverage company. The company is now venturing beyond its successful Jimmy’s® Cocktails and Sparkling Mixers and introducing the ‘Hustle’ Energy drink, aiming to disrupt the Energy Drinks category.
To support this expansion, Radiohead recently completed a fundraiser, extending its earlier Pre-Series A round. The company’s valuation has grown threefold over the past year and an impressive 20 times over the last three years since its inception.
Prath Ventures led the funding round, with participation from notable angels such as Vijay Shekhar Sharma (Paytm) and Neel Bahl. Existing investors, including HDFC’s Keki Mistry, Shiprocket’s Vishesh Khurana, 7Square Ventures, T&T Motors’ Vidur Talwar, and CLSA’s Anirudh Somani, also contributed.
Ankur Bhatia, Founder, and CEO of Radiohead Brands, expressed their vision to elevate the packaged beverage category in India by offering better quality products at the premium end. The company aims to disrupt the lower-priced segment and build a strong presence in the premium beverage market with a focus on sharp positioning and innovative packaging.
With plans to enter several untapped categories over the next few years, Radiohead Brands envisions achieving a revenue run-rate of ₹100 crore by the following year and becoming a ₹1000 crore company within the decade. In the financial year 2023, the company’s revenues grew by over 75%, and Jimmy’s brand is now available at more than 20,000 retail outlets, wine shops, and prominent bars across 50 cities, as well as leading e-commerce platforms.
The brand also operates a direct-to-consumer (D2C) business through its website DrinkJimmys.com, delivering to over 400 cities in India. Nitin Bhardwaj, Co-founder and COO of Radiohead Brands emphasized their readiness to launch Hustle, leveraging the existing platform built on the success of Jimmy’s. The company’s deep category experience and sharp brand positioning position them favorably to become a dominant player in the Energy Drinks segment.
Piyush Goenka, founder of Prath Ventures, sees Radiohead Brands as a promising player in India’s high-growth premium beverages segment. He praises Ankur and Nitin for their strong understanding of brand building and distribution, as well as the company’s ability to win customer love and acceptance from the trade.
Founded in 2019 by Ankur Bhatia and Nitin Bhardwaj, Jimmy’s® claims to have outpaced other start-ups in the same space, serving over 12 million drinks in FY’23. With its established market presence, route to market, and brand-building capabilities, the company now aims to dominate the premium energy drinks segment.