Rio Innobev, a Pune-based beverage startup has raised ₹10 crore in a pre-Series A funding round led by Atomic Capital and other marquee investors.
The funds raised will be used for distribution expansion, brand building, product innovation, and manufacturing upgrades. The company is also planning to broaden its product range to include indulgence-based, health-oriented, and functional beverages.
Rahul Sangoi, CEO and Co-Founder, Rio Innobev said, “When we started RIO, our clear mission was to create a beverage brand that reflects the energy, tastes, and aspirations of a new generation of Indian consumers. We saw a massive gap in the market for fun, flavour-forward, and affordable drinks that didn’t compromise on quality. From day one, we’ve stayed nimble, bold, and focused on building a brand that challenges the status quo. This fundraiser marks more than just capital, it is a validation of everything we have built and a springboard for where we are going. With this backing, we are doubling down on what we do best, expanding our footprint aggressively, innovating with speed, and delivering products that excite and energize. Our goal is to make RIO a household name, and this is just the beginning of that journey.”
Apoorv Gautam, Founder, Atomic Capital, said, “We were immediately drawn to Rio Innobev because they’ve built something rare, a brand that’s not only disruptive in its category but has also demonstrated strong fundamentals. They’ve proven they can scale without losing sight of what makes them special, a sharp product-market fit, a clear brand identity, and an ambitious but disciplined execution style. This is not just a beverage company, it’s a movement that taps into the cultural and lifestyle pulse of young India. The team’s clarity of vision and ability to execute at scale set them apart. We believe Rio is on the verge of becoming a breakout consumer brand, and we’re excited to support them in this journey.”
Founded in 2014 by Rahul Sangoi, Rajiv Sangoi and Rohan Sangoi, Rio Innobev is a beverage brand. Rio Innobev portfolio includes RIO Bubbly Fruit Drink, featuring 15% juice content, reduced sugar, and added nutritional benefits, and RIO BOOM Energy Drink, targeted at the youth demographic seeking affordable, functional beverages.
Rio’s products are available across major retail outlets like Dmart, Reliance Retail, and 7-Eleven, and on Q-commerce platforms including Zepto, Swiggy Instamart, and Blinkit.
Currently operating in more than 25 cities across Maharashtra and Gujarat through 35,000 retail outlets, the company plans to triple its presence to 1,00,000 retail points over the next three years. Rio Innobev is also aiming to strengthen its presence on quick commerce platforms and modern trade channels, as part of its omnichannel distribution strategy.
Rio Innobev claims to have remained EBITDA positive, growing from 7.5 lakh units in its first year to over 15 million cans and bottles sold annually.
