Beverage brand Bored Beverages has raised over Rs 2.5 Cr in a seed round led by Inflection Point Ventures and a clutch of private investors, the company said in a press release.
Individual investors include Bhawana Bhatnagar, founder – WeFounder Circle, Soumya Kant, founder, Clovia and from a firm called Dot In Network.
Prabhtej Singh Bhatia, Founder of Simba Beer will be joining in the journey of building the company as a strategic investor and mentor, the official statement said.
The funds raised in the funding will be utilized towards the expansion of the team, scaling up of sales and marketing operations, distribution channel and building the brand in the market, the company highlighted.
As per industry reports, by 2030, 50% of Indian consumers are expected to buy more of the same category of alcoholic beverages that they were already consuming, 26% are estimated to move to higher brands and 24% are expected to spend on newer categories of alcoholic beverages. Bored Beverage falls in the new category.