Hyderabad: Remember goli soda, the fizzy beverage of yesteryears that people used to drink to quench their thirst? A Hyderabad-based startup called GoliSoda is now trying to recreate similar ‘magic’ through a range of authentic beverages from coconut water to watermelon juice.
(From Left) Krishna, Ravi Teja Jallepalli, Founder-GoliSoda, Srikanth, and Naren launching the new range of GoliSoda beverage in Hyderabad on Wednesday
Founded by four young entrepreneurs, GoliSoda currently sells around 2,000 bottles a day. The sales volume is not a big one for a two-year-old startup, but it has put in place plans to increase the volume to 12,000 bottles per day this summer.
Ravi Teja Jallepalli, Founder, GoliSoda, said: “Over the past one year, we have been working on our R&D as well as piloting the natural thirst quencher beverages online with Swiggy, in few drive-ins and in some restaurants before we brought it to the market. As part of our expansion plan, other than having a dedicated manufacturing plant somewhere in between Bengaluru and Chennai, we’re also looking at a capital investment of Rs 2.5 to Rs 3 crore.
We aim to lead the local beverage category. After the consolidating in the local market, we’ll launch our beverages in Bengaluru and Chennai.” The company claims to have clocked Rs1crore revenue in the first year of product testing itself, “We are looking at 15 times growth this year. We foresee a big potential in the B2B segment and we are working towards consolidating our penetration in this segment,” added Ravi.
GoliSoda has tie-ups with 25 major restaurants in and around the city and plans to add 65 more by end of this year. While the Rs22,000-crore soft drinks market has been grappling with single-digit growth for the past two years as consumers are switching to healthier, localized beverages.
According to rough estimates, the unorganized market for ethnic beverages in India is around $200 million to $250 million, while the organized market is barely one per cent.