RIO INNOBEV Pvt. Ltd., the Pune-headquartered beverage startup behind the popular RIO drinks, has raised ₹10 crore in its first institutional round led by Atomic Capital, along with several strategic investors.
Founded in 2014 by Rahul, Rajiv, and Rohan Sangoi, the company is known for its two flagship products — RIO Bubbly Fruit Drink (BFD) and RIO BOOM Energy Drink. RIO BFD combines fruity fizz with added Vitamin C, honey, and reduced sugar content, while RIO BOOM caters to India’s youth with an energizing blend.
With this fresh infusion of capital, the startup aims to scale up distribution, enhance brand visibility, introduce new innovations, and upgrade manufacturing infrastructure.
Currently available in 35,000+ retail outlets across 25 cities in Maharashtra and Gujarat, RIO is now targeting 1 lakh outlets in the next three years. The company also plans to strengthen its digital footprint via quick-commerce platforms like Zepto, Blinkit, and Swiggy Instamart, as well as expand presence in retail giants like Dmart, 7-Eleven, and Reliance Retail.
Despite being bootstrapped until now, RIO has maintained consistent EBITDA-level profitability, growing from 7.5 lakh units in its first year to over 15 million cans and bottles annually. With a focus on health, indulgence, and functional beverages, RIO is tapping into India’s rapidly evolving beverage landscape.
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