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Homegrown accelerator and incubator Venture Catalysts on Monday announced that it has led an investment of $1 million in a pre-series A funding round for infusion beverages startup Raskik. 9Unicorns, another accelerator venture capital firm, also participated in the round along with the backing of some key angels and corporate investors such as Syed Safawi, Kunal Bahl and others.
The fresh investment pumped into the startup will be utilized to expand its operations in India and seeks to develop consumer intimacy with millennials.
Founded by Vikas Chawla, Abhay Parnerkar and Satyajit Ram, Raskik targets millennials and provides natural fusion beverages. The startup at the moment is present in Delhi NCR and serves three variant of coconut water and fruit juice fusions through general trade, local MT chains and e- grocers such as MilkBasket and BigBasket.
Commenting on the development, Chawla said, “At Raskik, we are creating a vibrant brand and are driven by our purpose of helping people live better by providing a portfolio of natural, great tasting fusion beverages. It is our belief that with our deep experience in this industry and a highly capable ecosystem of partners, we will delight our consumers with great quality, innovative beverages.”
On the investment, Anuj Golecha, co-founder at Venture Catalysts, said, “We are elated to lead the funding round for fusion beverage brand Raskik. While we believe in the growth of the natural fruit juice category in India, we also have immense faith in the ability of the founders who have a deep understanding about the category given their vast experience in Coca-Cola. We wish the founders all the best.”
Abhijeet Pai of 9Unicorns expressed his excitement to back Raskik and claimed that the startup has found a sweet spot in the growing $2 billion fruit juice category.