7th December 2015, Delhi: AMM Hospitality Private Limited, a company which owns two brands, Elixir Coterie and Delhi Cocktail Week has closed their first round of funding at $1.5 million. The funds have been raised by selling 26 per cent stake in the company to four HNI investors who belong to one of the oldest Books Agency in Delhi, the Jain book agency.
The Funds would be utilised to boost existing operations of Delhi Cocktail Week which plans to launch from 12th to 19th December, 2015 involving 100+ bars in Delhi NCR. There would be host of events during the week involving over half a dozen celebrity bartenders from around the World. They are flying from New York, Belgium, Hong Kong, Singapore, Dubai, Belarus and Goa.
The company also plans to scale its cocktail bar catering business under the name Elixir Coterie which has managed bars for over 150+ events in last one year ranging from 10- 800 guests. It plans to revolutionise private parties by introducing the first ever automated cocktail dispensing machine which can dispense over 700 recipes.
Archit Singhal, CEO and Founder says, “Delhi NCR has seen a stark change in the drinking culture in last one year with people appreciating cocktails and our company has been in the forefront enabling that. We plan to make Delhi Cocktail Week an annual property with expansion to other cities like Bangalore and Mumbai next year. We also plan to enter the hospitality business by opening an exclusive cocktail bar in Delhi.”