Mumbai-based startup Coolberg which offers malt-based, flavored, non-alcoholic beers has raised Series A funding of $3.5 million led by RB Investments (Singapore-based family office) and its existing investor, India Quotient.
The round also saw participation from Ashish Goenka, chairman of Suashish Diamonds Ltd, and a pool of investors from Indian Angel Network (IAN).
Yashika, Co-founder and COO, Coolberg, said,“The Indian beverage market is witnessing an interesting transformation with an increased demand for new flavours.
Coolberg currently has distribution networks across major Indian cities, with 12,000 outlets across states including Bihar, Maharashtra, Punjab, Haryana, UP, Jharkhand, Goa, Karnataka, Telangana, West Bengal, and Rajasthan.
Apart from traditional trade channels such as supermarkets and restaurants, Coolberg can also be found at offices, colleges, airports, etc.

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