Rio Innobev raises Rs 10 crore for nationwide expansion

Pune-based beverage startup Rio Innobev has successfully raised Rs 10 crore in a pre-Series A funding round led by Atomic Capital, with plans to utilize the funds for distribution expansion, brand building, product innovation, and manufacturing upgrades. The company aims to grow its presence from over 35,000 retail stores across Maharashtra and Gujarat to 100,000 outlets nationwide over the next three years, focusing on quick commerce platforms and modern trade networks. Co-founder and CEO Rahul Sangoi emphasized the brand's commitment to creating fun, flavor-forward, and affordable drinks while remaining EBITDA positive since inception. Founded in 2014, Rio Innobev's product lineup includes RIO Bubbly Fruit Drink and RIO BOOM Energy Drink, and the company aspires to become a Rs 500 crore brand within four years. The funding marks a significant step towards scaling its operations and enhancing product offerings to meet evolving consumer preferences.