Coolberg Success Story- Aimed Towards Youngsters Who Don't Drink Alcohol

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Sarika Anand

Feb 10, 2022 — 8 min read

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Coolberg.

In the Indian market, there hasn't been much creativity in the soft drinks industry, and it has grown somewhat antiquated. Coolberg was created to provide a quality and creative soft drink substitute. New flavours and fashionable items are required in contemporary India. According to a recent poll, more than 80% of customers want to try alternatives to Colas. As a result, Coolberg, a drink for everyone, was developed.

Non-alcoholic beer can be made using a variety of methods. Some of which involve restricting the fermentation process and others require evaporation of alcohol from an ordinary beer. Coolberg uses the former method and keeps the fermentation of its beverages to a minimum.

Know more about the company profile, startup story, business model, founders, etc., of Coolberg by reading this article further.

Coolberg - Company Highlights

Startup Name	Coolberg
Legal Name	Coolberg Beverages Private Limited
Headquarters	Mumbai, Maharashtra, India
Industry	Craft Beer, and Food and Beverage
Founders	Pankaj Aswani, Yashika Keswani
Founded	2016
Areas Served	India
Current CEO	Pankaj Aswani
Website	www.coolberg.in

About Coolberg
Coolberg - Industry
Coolberg - Name, Logo, and Tagline
Coolberg - Founders
Coolberg - Startup Story
Coolberg - Vision, and Mission Statement
Coolberg - Employees
Coolberg - Business Model, and Revenue Model
Coolberg - Funding, and Investors
Coolberg - Growth
Coolberg - Competitors
Coolberg - Future Plans

About Coolberg

Coolberg Beverages Pvt Ltd is a firm that makes non-alcoholic drinks. It is an Indian company that manufactures non-alcoholic beers to establish a new drink genre that is trendy, contemporary, and appealing.

The company's beers are made with natural ingredients including herbs and barley malt and are available in a wide variety of flavours, giving drinkers and beverage fans a selection of interesting mocktails and beers to pick among.

Coolberg's Malt Zero Alcohol Beer has a beer-like flavour, and its other malt-based drinks, such as Cranberry, Strawberry, Peach, Ginger, and Mint, provide a pleasant and fresh punch. The company's goods appeal to a wide range of clients, including many who enjoy Coca-Cola and those who crave the flavour of the beer.

Coolberg - Industry

During the projected timeframe, the non-alcoholic beverage market is expected to grow at a rate of 4.7 per cent (2021-2026). COVID-19 is having a significant influence on the worldwide non-alcoholic beverage category, which is implementing numerous safety regulations, measures, and quality control to increase customer confidence.

Such initiatives have raised sales of items with functional advantages, such as immunological health, which are projected to have a favourable influence on the market; demand for high-sugar carbonated drinks has decreased both in off- and on-trade venues.

In 2020, the pandemic changed the package size scenario, with customers opting for larger pack sizes and multipacks since they are more cost-effective and eliminate the need for further regular shop visits.

The non-alcoholic beverage sector in India has experienced tremendous growth. Expanding middle-class populations, increased urbanisation, and rising disposable income are all contributing to this expansion.

Furthermore, with a population of 1.3 billion people, India is one of the world's largest consumer marketplaces. It is also one among the youngest in terms of demographics, with over half of the population under the age of 25 and around 65 per cent under the age of 35.

According to an analysis, the Indian bottled non-alcoholic drinks industry is expected to rise at a rate of 16.2% from 2017 to 2030. Furthermore, because more individuals switch to packed beverages, the industry is expected to expand to USD 20.4 billion by the end of the projection period.

Coolberg - Name, Logo, and Tagline

Coolberg Logo

Coolberg's slogan says, "Non-Alcoholic Beers Never Tasted So Good Before."

Coolberg - Founders

Coolberg was founded by Pankaj Aswani and Yashika Keswani in 2016.

Pankaj Aswani

Pankaj is the CEO and co-founder of Coolberg. His name was also included in Forbes' list of the top 30 under 30 people in the world. He is a CA and a former banker.

Yashika Keswani

Yashika is the Co-Founder and Chief Operating Officer of Coolberg Beverages Pvt. Ltd. She previously worked at MTLB as a Verbal Communication Expert, where she was responsible for content writing for print advertisements, idealising, designing posts for social media websites, managing pages on social media websites, blog writing, radio jingles, and content writing for brochures, visiting cards, and menu cards, among other things.

Coolberg - Startup Story

Pankaj and Yashika, a couple, established Coolberg in 2016. Pankaj is a teetotaller who does not drink alcohol, although he enjoys partying with his buddies. So many of his pals drank beer or other alcoholic beverages, but Pankaj preferred to consume Energy Drink or Apple Juice discreetly.

The trick was that both the options seemed to be beer in the glass, and friends didn't push him to consume more alcohol. In several instances, he rescued himself. The greater problem was that there weren't a lot of alternatives for non-drinkers, and Pankaj didn't use to buy expensive mocktails with a lovely curled straw.

Pankaj and Yashika visited Australia and New Zealand after their marriage in early 2016. Pankaj had the same difficulty at many of the restaurants and clubs, that is where they discovered the non-alcoholic beer alternative.

Pankaj ordered Non-Alcoholic Beer right away and fell madly in love with it. This was the epiphany moment when a doorbell rang in both of their heads, and they tried to launch non-alcoholic beers in India, 12,000 kilometres away from the home.

When Pankaj and Yashika returned to India, they began working on the formulas and spent several months perfecting the formulation and putting in place all of the necessary equipment.

Coolberg was formed after a huge amount of work, and their idea of developing a non-alcoholic beer subcategory in India became a reality, and it is now on its way to being a great success.

Coolberg currently sells not just in India, but also in Africa, Bhutan, the Maldives, Nepal, and other nations.

Coolberg aspires to be India's biggest beverage firm in the premium non-alcoholic beverage sector. The Coolberg family has grown to over 300 members and is rapidly increasing.

Coolberg - Vision, and Mission Statement

Coolberg was formed, and their vision of establishing a non-alcoholic beer category in India became a reality, and it is now on its way to becoming a huge success.

Coolberg - Employees

Pankaj Aswani - Founder & CEO
Yashika Keswani - Co-Founder & COO
Sumanta Sarkar - Director of Sales Marketing
Aejaz Patel - Business Development Manager
Bhavin Rajde - Business Development Manager
Biman Kar - Business Development Manager - HORECA
Brijesh Gupta - Area Sales Manager
Dharmesh Kundaliya - Market Development Manager
Kapil Baviskar - Business Development Manager
Milan Das - Area Sales Manager

Coolberg - Business Model, and Revenue Model

“Coolberg was conceptualised looking at the needs of non-alcoholic consumers, I being one of them. There was a demand and it was met by imported stuff. We saw an opportunity in non-alcoholic beer segment and entered this business. We are increasing production every month,” Aswain said.

Coolberg is a millennial-oriented brand. It's designed to have the optimum flavour, consistency, and scent, as well as youthful and colourful packaging. The product is now accessible in over 30 major cities and is supplied at over 2000 commercial outlets, the majority of which are cafes and restaurants.

The products are priced at Rs 109/- MRP and fall into the luxury segment. Coolberg has carved out its position in the marketplace, catering to customers who aren't interested in alcoholic beverages.

When non-drinkers are socialising with friends and seeking a more grown-up option to the juice and soft drink alternatives present in the market, it also provides a fresh perspective.

Coolberg - Funding, and Investors

Coolberg has raised $3.5 million in two rounds of financing.

Date	Round	Amount	Lead Investors
Nov 13, 2019	Series A	$3.5M	RB Investments Pte. Ltd.
Aug 1, 2018	Seed Round	-	Anirudh Agarwal, India Quotient, Sanjay Mehta

Coolberg - Growth

Coolberg is a millennial-oriented brand. It's designed to have the optimum flavour, texture, and scent, as well as youthful and entertaining packaging. The products are now accessible in over 30 major cities and are supplied at over 2000 retail touchpoints, the majority of which are restaurants and cafés.

The products are priced at Rs 109/- MRP and fall into the premium category. Coolberg does have its own place in the industry, catering to those who aren't searching for alcoholic drinks.

When non-drinkers are socialising with friends and seeking a more grown-up alternative to the soft drink and juice alternatives available on the market, it also provides a fresh experience.

Coolberg is now accessible in 25,000 retailers across India, 4 years since its inception. Supermarkets, grocery shops, cafés, restaurants, colleges, airlines, and online mediums, all distribute it.

Pankaj, a Chartered Accountant, is in charge of marketing and statistics, while Yashika is in charge of organizing and advertising. According to Statista, sales in the soft drinks industry in India is estimated to reach $4,932 million by 2022, with the market growing at a 9.0% annual rate (CAGR 2021-2025).

Currently, the brand works with over 250 distributors that provide to a variety of retail outlets. Also, it sells directly to consumers through a range of online platforms.

Coolberg - Competitors

Counter Culture Coffee, Budweiser, Heineken, Kingfisher, Funkin, Boxed Water, and INCASUR are among Coolberg's main competitors.

Coolberg - Future Plans

Pankaj Aswani, Founder of Coolberg Beverages Pvt Ltd, said, "Coolberg was conceptualised looking at the needs of non-alcoholic consumers, I being one of them. There was a demand and it was met by imported stuff. We saw an opportunity in the non-alcoholic beer segment and entered this business. We are increasing production every month."

Coolberg Beverages Pvt Ltd intends to increase market dominance in terms of reaching out to several clients. The firm's offerings, which include the manufacture and marketing of zero-alcohol beer, are currently accessible in 30 major locations across India. Such items were available in 2,000 outlets, including stores and restaurants. Coolberg now intends to increase its reach by ten times.

As of 2019, "This year our target is to make products be made available at 20,000 outlets, which is a 10 times growth in market expansion. We want to penetrate deep into the markets we are already in. It helps in better distribution and an efficient supply chain. Once we stabilise our operations in these markets, we will expand to new markets," Aswani added.

Coolberg - FAQ

What does Coolberg do?

Coolberg Beverages Pvt Ltd is an Indian startup that makes non-alcoholic drinks.

Who founded Coolberg?