Pune-based beverage startup Rio Innobev has secured its first institutional funding of ₹10 crore in a pre-Series A round led by Atomic Capital, with additional participation from other investors. This marks a significant milestone for the company as it sets the stage for accelerated growth, innovation, and market expansion.
Founded in 2014 by Rahul Sangoi, Rajiv Sangoi, and Rohan Sangoi, Rio Innobev is best known for its RIO Bubbly Fruit Drink (BFD) and RIO BOOM Energy Drink. The RIO BFD range delivers exotic fruit flavors with 15% juice content, is fortified with honey and Vitamin C, and contains 25% less sugar. Meanwhile, RIO BOOM targets young and aspirational consumers seeking a bold taste and energy-boosting benefits.
The newly raised capital will be deployed to scale up distribution networks, strengthen brand visibility, drive product innovation, and upgrade manufacturing capabilities, the company said in a statement.
Currently available in over 35,000 retail outlets across more than 25 cities in Maharashtra and Guja
Rio Innobev has been EBITDA positive since inception, scaling from 7.5 lakh units in its debut year to over 15 million cans and bottles sold annually. The company attributes this growth to its focus on speed-to-market, product quality, and consumer-centric innovation.
Looking ahead, Rio plans to expand its portfolio into the indulgence, health, and functional beverage categories, aligning with India’s evolving consumer trends. The startup is also investing in manufacturing enhancements to improve efficiency, ensure product excellence, and strengthen its unit economics.
With this fresh infusion of capital, Rio Innobev is well-positioned to compete more aggressively in both national and regional markets, reinforcing its ambition to become a leading name in India’s fast-growing beverage space.
