Page 6 - FPM May 2025

6 Food Processing News Today BEVERAGES May 2025

Rio Innobev raises 10 Cr to triple retail Moon Beverages mulls IPO, invests

reach, eyes 500 Cr goal in four years over Rs 4,000 cr

oon Beverages, one which would be acquisitions,
io Innobev Pvt. Ltd., validation of everything we journey." o f t h e l e a d i n g putting up plants, adding lines,
t h e h o m e g r o w n have built and a springboard With the Indian beverage Mbottlers of Coca- etc. So it is a very heavy capex
Rbeverage disruptor for where we are going. With market ripe for further Cola in India and part of MMG business. But yes, to double the
Group, is considering an Initial business in three to four years,
behind RIO Bubbly Fruit Drink this backing, we are doubling disruption, Rio Innobev is
Public Offering (IPO) to we n e e d t h i s c o n sta nt
and RIO BOOM Energy Drink, down on what we do best, poised to become a ₹500 crore
a c c e l e ra t e g ro w t h a n d investment, and we are not
today announced that it has expanding our footprint brand in the next four years. expansion in the country's fast- shying away," said Agarwal.
raised its first institutional aggressively, innovating with Backed by seasoned investors growing soft drinks market, said Agarwal, who strongly believes
fundraising of ₹10 crore in a speed, and delivering and a clear strategy, the a top company official. in the Indian growth story, said
pre-Series A funding round led products that excite and company is set to redefine MMG Group expects Moon per capita consumption of soft
by Atomic Capital, and other energize. Our goal is to make what it means to enjoy a Beverages, a key franchise drinks is still very low, which is
marquee investors. RIO a household name, and refreshing, homegrown drink partner of Coca-Cola, to double almost one-tenth of some of the
The funding marks a pivotal this is just the beginning of — with both energy and its revenue in the next three to developed markets.
four years, helped by growth The company currently operates
milestone for the Pune-based that journey." attitude. Beyond its presence
coming from new plants, five bottling plants and has plans
startup as it prepares for Founded in 2014, Rio Innobev in leading modern trade
expansion of capacity and to add two more, coming at
aggressive nationwide has stayed EBITDA positive outlets like Dmart, Reliance acquisition of new markets, said Jharkhand and Odisha in the
expansion and product ever since, scaling from 5 Retail, 7-Eleven, Wellness its Vice Chairman Anant next couple of years, which will
innovation. Currently present employees to 145, and Forever, and Patel Retail, as Agarwal. Moon Beverages has scale up its bottling capacity
in over 35,000 retail stores growing from 7.5 lakh units in well as on quick commerce invested Rs 4,000 crore so far substantially.
across more than 25 cities in its first year to over 15 million platforms such as Zepto, and plans to invest further for its Moon Beverages has recently
Maharashtra and Gujarat, Rio cans and bottles sold annually. Swiggy Instamart, and Blinkit, two upcoming plants at acquired bottling operations in
Guwahati, Assam and Rourkela Jharkhand after Hindustan Coca-
Innobev aims to scale to Produced at its state-of-the- the company plans to triple its
in Odisha, which will add up to Cola Beverages (HCCB), a
1,00,000 outlets over the next art Pune facility, the brand general trade footprint and
7,000 bpm (bottlings per wholly-owned subsidiary of the
three years while deepening continues to focus on significantly deepen its reach
minute) capacity. When asked as Coca-Cola Company, has
its omnichannel presence innovation, speed-to-market, in India's top metros and to whether the company plans divested its bottling operations.
with Quick Commerce and uncompromising quality. emerging mini-metros over to go for an IPO, Agarwal told "We operate in the regions of
platforms and modern trade The fresh funds will be the next three years. PTI: "This is in our plan. north and east. We have a
networks. channelled into four growth Simultaneously, Rio is However, we cannot divulge presence in Delhi NCR and
Designed with the ambition to pillars: distribution expansion, sharpening its focus on many details as of now." western UP, in east India. In east
fill the gap for vibrant, youth- brand building, product building a diverse portfolio "We are very bullish on growth we have presence in West
for Moon Beverages and the IPO Bengal, Jharkhand and Seven
centric beverages in India, Rio i n n o v a t i o n , a n d across Indulgence, Health, and
plan sits very well with that Sisters of the north-east," he
I n n o b e v h a s b u i l t a manufacturing upgrades. The F u n c t i o n a l b e v e r a g e
ambition," he added. said, adding, "So we acquired
differentiated portfolio. RIO company aims to expand its categories, responding to the
Though Agarwal did not share Western UP in year 2020, and
Bubbly Fruit Drink (BFD) offers portfolio across indulgence, evolving tastes of young the timeline, he said the group is the last couple of years, we
exotic fruit flavours with 15% health, and functional Indian consumers. As part of considering the option and is in acquired the entire West Bengal,
juice content, fortified with beverage segments, catering its scale-up strategy, the consultation with various north-eastern region and
honey and Vitamin C, and 25% to evolving consumer company will also invest in stakeholders. Currently, Moon Jharkhand." Atlanta-based
less sugar than most preferences. expanding its manufacturing Beverages is the third largest beverage major Coca-Cola is
competitors. Meanwhile, RIO Apoorv Gautam, Founder of capabilities to ensure faster bottler of the Coca-Cola divesting its bottling assets
company in India after SLMG globally as per its asset-light
BOOM Energy Drink caters to Atomic Capital, maintained, go-to-market execution,
and Kandhari Global. It has an strategy.
y o u n g , a s p i r a t i o n a l "We were immediately drawn superior product quality, and installed capacity of 10,000 bpm Asked whether Moon Beverages
consumers with a bold taste to Rio Innobev because strong unit economics as it (bottlings per minute). "We would go for much more
and energy-boosting formula, they've built something rare, a prepares to compete more (Moon Beverages) have opportunity for Coca-Cola in
all at an accessible price point. brand that's not only aggressively in both national emerged as a leading bottler other parts of the country or
Rahul Sangoi, CEO and Co- disruptive in its category but and regional markets. and strategic partner for Coca- even in the overseas markets,
Founder of Rio Innobev said, has also demonstrated strong Mumbai-based Atomic Capital Cola. With acquisitions and Agarwal said: "Yes absolutely.
"When we started RIO, our fundamentals. They've is an early-stage VC firm investments in new bottling We are open to acquisitions" as
clear mission was to create a proven they can scale without founded in 2024 by Apoorv units, we have seen multi-fold it has grown into this business in
growth over the past 2–3 years," more than inorganic way.
beverage brand that reflects losing sight of what makes Gautam, a veteran with 18+
he added. Agarwal expects the "We will be happy to expand our
the energy, tastes, and them special, sharp product- years across investing,
group's bottling business, Moon portfolio and the region as much
a s p i rat i o n s o f a n e w market fit, a clear brand consulting, and leadership.
Beverages, should deliver a 20 as possible. So that will be done
g e n e ra t i o n o f I n d i a n identity, and an ambitious but Focused on scaling consumer per cent year-on-year growth with Coca Cola... and we are
consumers. disciplined execution style. and consumer-tech brands, for the next five years. We are open to that," said Agarwal,
We saw a massive gap in the This is not just a beverage Atomic Capital brings a hands- extremely confident about the adding, "We would be happy to
market for fun, flavour- company, it's a movement on approach and deep numbers going." He did not go global. I think we have no
forward, and affordable that taps into the cultural and strategic expertise to its share the revenue numbers, but cons of going global. So when
drinks that didn't compromise lifestyle pulse of young India. portfolio. With a operating VC said he expects to double the the opportunity is there, we
topline in the next 3 to 4 years would be more than happy to
on quality. From day one, The team's clarity of vision playbook and a sharp focus on
with this rate of growth. About participate." Moon Beverages is
we've stayed nimble, bold, and ability to execute at scale capital efficient growth, investments, he said the group is part of the Agarwal family-
and focused on building a set them apart. Atomic Capital has quickly investing substantially to owned MMG group, which has
brand that challenges the We believe Rio is on the verge built investor confidence, expand its operations and interests in sectors ranging from
status quo. of becoming a breakout closing an oversubscribed topline. "In the last four years, oil & gas to hospitality and real
This fundraise marks more consumer brand, and we're debut INR 350Cr fund within a we have invested more than Rs estate, besides in bottling
than just capital, it is a excited to support them in this year of launch. 4,000 crore into this business, operations.
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