About Groovy
Groovy is a Consumer company based in Delhi (India) founded in 2020 by Rajneesh Sharma and Mitkaran Singh Ghai. Internet first brand offering cold pressed juices. Groovy has raised $1.87 million across 1 funding round from investors including BanyanTree Finance, Mitkaran Singh Ghai and Rajneesh Sharma. The company has 1 employees. Groovy was last valued at $6.95 million in April 2024. Its Indian entity Enhaz Beverages Private Limited reported revenue of ₹33.13 Cr. Its focus areas include Food and Agriculture, Food & Beverage Products, Beverages and Juices and Dilutables. Its competitors include Raw Pressery, Shankar Group and Jagdale; 2 of its 3 listed competitors have raised funding.
Company details
Groovy was founded in 2020 in Delhi, India, as an internet-first brand in the beverage sector. Cold-pressed juices are produced from fruits including guava, mango, pomegranate, lychee, lemon, and mixed varieties. These juices are made without preservatives, added colors, or other additives. Operations focus on direct-to-consumer sales through the companys domain, drinkgroovy.com, with co-founders Rajneesh Sharma and Mitkaran Singh Ghai leading the venture.
- Headquarters Delhi, India
- Employees 1
- Founders Rajneesh Sharma, Mitkaran Singh Ghai
- Stage Minicorn
- SectorsConsumer
- Email••••••••
- Phone•••• ••••
- Website drinkgroovy.com
- Social LinkedIn
- Legal Name Enhaz Beverages Private Limited
- Date of Incorporation 26 Aug, 2019
- Jurisdiction Delhi, India
- Annual Revenue₹33.13 Cr
FY 2024 · +2% YoY
- Net Loss-₹2.90 Cr
FY 2024 · -9% margin
- EBITDA-₹3.44 Cr
FY 2024 · -10% margin
- Total Equity Funding$1.87M (USD)
in 1 rounds
- Latest Funding Round$1.87M (USD), Seed
Apr 2024
- InvestorsBanyanTree Finance
& 2 more
- Employee Count1
Associated legal entities of Groovy
Groovy operates through Enhaz Beverages Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Enhaz Beverages Private Limited CIN U15549DL2019PTC354257 | Active | 26 Aug 2019 | Delhi, Delhi | ₹33.1 Cr | 102 | 3 | View details |
Funding Insights of Groovy
Groovy has successfully raised a total of $1.87M through 1 strategic funding round. The most recent funding activity was a Seed round of $1.87 million completed in April 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.87M
- Total Rounds 1
- Last Round Seed — $1.87M
- First Round $1.87M
(Apr 2024)
- Investors Count 3
All 1 funding rounds of Groovy with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2024 | $1.87M | Seed | $6.95M | BanyanTree Finance |
| Date | Valuation | Stage |
|---|---|---|
| Apr 2024 | $6.95M | •••••••• |
Last known valuation $6.95M (Apr 2024). 3 investors in total: 1 institutional and 2 angel.
Investors in Groovy
Groovy has secured backing from 3 investors, including venture fund and angel investors. Prominent investors backing the company include BanyanTree Finance, Mitkaran Singh Ghai and Rajneesh Sharma.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investment firm engaging in diverse sector partnerships in India. | 2008 | banyantreefinance.com | Mumbai, India | |
MS Mitkaran Singh Ghai | Angel investor and entrepreneur, focused on tech startups in India. | unknown_328984e74b914b51a | ||
RS Rajneesh Sharma | Angel investor and entrepreneur, focused on tech startups in India. | unknown_7240851040d64be1b |
Investor details for Groovy
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Board of directors of Enhaz Beverages Private Limited (Groovy)
Enhaz Beverages Private Limited is the primary company behind Groovy. The board of Enhaz Beverages Private Limited currently have 3 directors; the longest-serving is Rajneesh Sharma, appointed in 2019.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Rajneesh Sharma DIN 01320267 | Director | 26 Aug 2019 | 7 yrs 2 mo | Enhaz Beverages Private Limited |
| Mitkaran Singh DIN 08546591 | Director | 26 Aug 2019 | 7 yrs 2 mo | Enhaz Beverages Private Limited |
| Avinash Sanjeeva Samala DIN 10764181 | Nominee Director | 03 Apr 2025 | 1 yr 6 mo | Enhaz Beverages Private Limited |
People of Groovy
2 people are tracked at Groovy (2 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
Mitkaran Singh Ghai | Co-Founder | Leadership |
Complete people profiles for Groovy
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Financials of Groovy
Figures of Enhaz Beverages Private Limited, the primary company behind Groovy, for FY 2024. Revenue was ₹33.13 Cr (+2% year on year). Net loss was -₹2.90 Cr (-9% margin). EBITDA was -₹3.44 Cr (-10% margin). Revenue has grown at a compounded annual rate of +61% over three years.
- ₹33.13 CrRevenue · FY 2024 · +2% YoY
- -₹2.90 CrNet loss · -9% margin
- -₹3.44 CrEBITDA · -10% margin
- ₹44.6 LakhPaid-up capital
- 102Employees (provident fund records)
- +61%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Enhaz Beverages Private Limited are on its company page.
Detailed financial statements for Groovy
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Groovy
3 dated milestones of Groovy across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Groovy is founded.
- Funding First funding round of $1.9M.
- Milestone Reaches Minicorn status.
Competitors of Groovy
Groovy has 3 listed competitors in our database, 2 of them funded. They include Raw Pressery, Shankar Group and Jagdale.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| rawpressery.com | 2013 | Mumbai, India | $32.81M | 381 | Brand of cold-pressed juices | |
| sgcorporates.com | 1987 | Puttur, India | $263,438 | 399 | Packaged foods, beverages, and auto parts are produced in India. | |
| jagdale.com | 1991 | Bengaluru, India | 120 | Diversified company with divisions in pharma, foods, exports, and services. |
Detailed competitors of Groovy
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Top companies in Food & Beverage Products & Processing
3 companies that operate in the same segment as Groovy (Food & Beverage Products & Processing) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Platform offering a subscription-based delivery service for fresh milk and groceries | 2015 | Gurugram, Haryana, India | USD 228.42 M | USD 99.78 M | 3,464 | |
Subscription-based coffee products are offered by an internet-first brand. | 2013 | Gurugram, Haryana, India | USD 112.84 M | USD 25.83 M | 2,059 | |
Meat and seafood products are delivered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 564.84 M | USD 97.26 M | 2,828 |
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Related news about Groovy
Complete news archive for Groovy
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Frequently Asked Questions about Groovy
Groovy was founded in 2020 and raised its 1st funding round 4 years after it was founded.
Groovy is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Groovy is a funded company, having raised a total of $1.87M across 1 funding round to date. The company's 1st funding round was a Seed of $1.87M, raised on Apr 2024.
Groovy has 1 employees.
The primary company behind Groovy, Enhaz Beverages Private Limited, reported revenue of ₹33.13 Cr for FY 2024, up 2% year on year.
Groovy was founded in 2020 in Delhi, India, as an internet-first brand in the beverage sector. Cold-pressed juices are produced from fruits including guava, mango, pomegranate, lychee, lemon, and mixed varieties. These juices are made without preservatives, added colors, or other additives. Operations focus on direct-to-consumer sales through the companys domain, drinkgroovy.com, with co-founders Rajneesh Sharma and Mitkaran Singh Ghai leading the venture.
Groovy's top competitors include Shankar Group, Raw Pressery and Jagdale.
Groovy has 3 investors. Key investors include BanyanTree Finance, Mitkaran Singh Ghai, and Rajneesh Sharma.
The valuation of Groovy is $6.95M as of Apr 2024.
Groovy operates through Enhaz Beverages Private Limited.
The legal entities of Groovy currently have 3 directors, including Rajneesh Sharma, Mitkaran Singh, Avinash Sanjeeva Samala.