A Jaipur-based beverage startup Infusion Beverages, led by three Class X students of Neerja Modi School, Jaipur, has received a funding of as much as Rs 3 crore.
The trio — Chetanya Golechha, Mrigank Gujjar and Utsav Jain — participated in the entrepreneurship fest of their school in April last year, which changed their fate, says a Times of India report.
The startup — Infusion Beverages — makes infused water bottles and by Infused water means flavoured water without preservatives which can replace soda.
The trio started their journey from framing an idea, finding an investor to seeing their product/service turn into a reality, delivering 150 bottles and finally got succeed in getting their initial funds, and all this happened in less than a year.
“Our presentation of the product failed to impress the judges in the fest. We were kicked out in the first round. Though we were out of the competition in the first hour but got the order of delivering 150 flavoured water bottles,” Times of India quoted Chetanya as saying.
Interestingly, Chetanya said that they carried out extensive research on Google to find a way to make flavoured water without adding sugar and soda.
He said that as they are minors, their parents helped them with procurement of licence, permissions from the food department and got approval from FSSAI on their behalf.
The trio then participated in the entrepreneurship competitions at IIT-Kanpur and IIM-Indore and received wide appreciation. The major boost came after Malviya National Institute of Technology (MNIT) decided to incubate their idea.
By January, they had sold 8,000 bottles of flavoured water – kewra, rose and bel flavours through B2B mode.
In January this year, while looking for a big breakthrough in their venture, an investor called them to Indore for a meeting .
“The meeting was successful in the first hour. They decided to fund Rs 3 crore. Under the agreement, we have the responsibility of marketing and research. The plant will be based in Indore,” said Utsav Jain.
The trio is preparing for his Class X optional board exam and other than school textbooks, they read UG and PG books on management to learn the nuances of market.
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