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9Unicorns announces undisclosed amount of seed funding in Malaki beverage
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Thursday, 22 April, 2021, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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9Unicorns, India’s first idea-phase accelerator VC fund, has announced an undisclosed amount of seed funding in Malaki, a premium brand in the functional beverage space. The round witnessed participation from individual investors -- Dharmesh Dalal, partner at Inga Ventures, and Rahul Parekh, director of Suraksha Realty.
Founded by Ashish Bhatia and Mohit Bhatia, both members of a family that has over 60 years of experience in the F&B industry, Malaki aims to redefine India’s functional beverage landscape. Since its launch in 2018, the brand’s luxury beverage offerings have earned acclaim both at home and abroad. Its unique range of premium beverages includes 24-karat gold water, alkaline nutrient-rich drinks, zero-calorie tonics, sparkling vitamin beverages, and sparkling water from the Himalayas.
Speaking on the investment, Mohit Bhatia, co-founder, Malaki, commented, “Every generation has a voice, and we are representing ours by marrying technology and art to create products that delight. We are excited to partner with 9Unicorns and others who share our vision to build the next disruptive homegrown non-alcoholic beverage brand, made in India, for the world.”
Anuj Golecha, co-founder, 9Unicorns, stated, “The market for luxury dining and drinking products in India has a lot of white space that discerning brands with innovative products can capture. India’s functional beverage market alone is worth US$5.9 billion and is growing at a CAGR of 21%. On the back of its swanky range of beverages and a strong founding team with unrivaled expertise under its belt, Malaki is disrupting this space and carving a new niche for itself. We are delighted to associate with a homegrown brand with global ambitions and are committed to guiding the founders towards placing India’s functional beverage industry on the world map.”
Besides establishing its stronghold in India’s functional beverage space, the homegrown brand began exporting its premium, innovation-driven products to more than four countries in a short span since its inception. The company has been targeting all form of distribution channels right from D2C to HoReCa for sales. The brand also distinguishes being the only Indian company to have been sponsored the Rolls-Royce club event in the UK in 2018 - where it launched its first product. The brand has been awarded a quality mark for its beverages by Acque Minerali Academy (Italy).
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