Rio Innobev Bags Rs 10 Crore in Pre-Series A Funding

Pune-based Rio Innobev has secured Rs 10 crore in pre-series A funding to expand distribution, enhance brand building, innovate products, and upgrade manufacturing. The beverage startup aims to scale from its current presence in over 35,000 outlets in Maharashtra and Gujarat to 1,00,000 nationwide within three years.

Pune-based beverage startup Rio Innobev announced on Tuesday it has raised Rs 10 crore in a pre-series A funding round, spearheaded by Atomic Capital and other key investors.

The company plans to invest the new funds into expanding distribution networks, strengthening brand identity, driving product innovation, and enhancing manufacturing capabilities.

Currently present in over 35,000 retail stores across Maharashtra and Gujarat, Rio Innobev aims to reach 1,00,000 outlets nationwide, tapping into quick commerce platforms and modern trade networks to meet evolving consumer preferences.

(With inputs from agencies.)