Jammu Tawi: Rockit, a new-age beverage brand founded by Vedant Garg, seasoned FMCG founder and professional, raised a 6 Cr pre-seed investment round led by Sauce.VC and Rannvijay Singha.
Sauce VC, one of India's most successful early-stage consumer investors, has invested in Rockit at the idea stage and is working closely with the management to identify market gaps and create a differentiated brand in the beverage industry. The company, which provides an array of energy drinks, is focusing on an omnichannel presence starting with North Indian states like the UP, Punjab, Rajasthan and Madhya Pradesh and gradually expanding pan-India.
The first product, Rockit Energy drink, is a mass priced berry flavoured energy drink, which operates in the fast growing energy drinks space, where the berry flavoured drinks are nearly 90% of the market by volume. The market is currently dominated by a single brand, providing adequate opportunity to build multiple profitable brands in the category. Rockit energy drink was soft launched initially in Haryana, and met with very encouraging response on both taste and packaging.
The brand has an exciting pipeline of products in energy drinks, fruit flavoured drinks and hydration products to be launched over time.
Vedant Garg, Founder, Rockit Superfoods, added, “The Indian consumer preference is changing, aligning itself with global standards. We like to offer similar product with Indian taste and convenience to the youth of Tier II and III cities. Distribution is the key in India and as a family we have garnered the same through our five decades old family legacy in the food business.
A sizable opportunity exists in India with selective presence of MNCs that too in metro cities. We are focusing omni-channel presence starting with major states like UP, Punjab, Rajasthan MP etc and gradually expand PAN India. The expansion in product basket from energy drinks to various offerings will offer unique value to Indian consumer.”
An excited Rannvijay Singha, said, “I'm thrilled to collaborate with the team at Rockit on the launch of their dynamic new energy drink. The taste and brand represent the energy of the youth of India, and we are excited about some ground-breaking campaigns to introduce it to consumers.”
Yash Dholakia, Partner, Sauce VC, added, “The team at Rockit has deep distribution expertise and has created a high-quality product at the right price. We are very impressed by the early pre-launch feedback for the product and believe a large and highly profitable beverage brand can be built here. We are also excited to partner with Rannvijay, who has been a great ally to the consumer brand startup ecosystem and resonates with the brand and consumer base perfectly.”
