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Pankaj Aswani (CEO) and Yashika Keswani (COO) - Founders of Coolberg
Non-alcoholic beer brand Coolberg reported a 9X spike in revenue to Rs 24.8 crore in FY25, compared to Rs 2.7 crore in FY24, according to its financial statements sourced from Registrar of Companies (RoC).
The company’s entire revenue was derived from operations. Of this, 96.25% came from beverages, 1.5% from snack foods, and the remainder from other product sales during FY25.
On the expenditure front, the purchase of stock-in-trade accounted for 55% of the company’s total expenses, which rose to Rs 13.8 crore in FY25 from Rs 2.6 crore in FY24. Employee benefit expenses increased sharply to Rs 4 crore in FY25, compared to Rs 7 lakh in the previous fiscal year.
Marketing and sales promotion expenses stood at Rs 3.3 crore in FY25, while freight expenses amounted to Rs 2 crore during the period. Overall, the company’s total expenditure surged to Rs 25 crore in FY25, compared to Rs 2.8 crore in FY24.
Despite strong revenue growth, Coolberg reported a loss of Rs 20 lakh in FY25, slightly widening from a Rs 13 lakh loss in FY24. However, operational efficiency improved marginally, with the company spending Rs 1.01 to earn every rupee in FY25, compared to Rs 1.04 in the previous year.
About Coolberg
Founded in 2016, Coolberg positions itself as India’s first crafted zero-alcohol beer brand, offering “grown-up” beverage alternatives for non-drinkers. The Mumbai-based startup was acquired in November 2022 by Ghodawat Consumer Limited (GCL), the FMCG arm of the Sanjay Ghodawat Group.
The company was founded in Mumbai by husband-wife duo Pankaj Aswani (CEO) and Yashika Keswani (COO). A teetotaler, Aswani conceived the idea after discovering non-alcoholic beer during a trip to Australia and New Zealand, aiming to recreate the beer-drinking experience without alcohol.
Coolberg specializes in malt-based beverages that replicate the taste and ritual of beer while remaining alcohol-free. Its products are available across supermarkets, grocery stores, and major food chains such as KFC, Barbeque Nation, and Wow! Momo. The brand has also strengthened its omnichannel presence through quick commerce and e-commerce platforms, including Blinkit, Zepto, Swiggy Instamart, Amazon, and Flipkart, enhancing accessibility for consumers nationwide.
In its maiden funding round in August 2018, the company raised an undisclosed seed investment from venture capital firm India Quotient and Indian Angel Network (IAN). In November 2019, it secured $3.5 million in a round led by Singapore-based family office RB Investments, with participation from existing investor India Quotient.