PitchIT No. 5 - Drype

In this issue, we'll take a look at Drype: a startup aiming to cut carbon emissions in the alcoholic beverage industry using water-soluble cocktail concentrates.

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Oct 05, 2023

Hello! I’m Alessio from Ulixes Capital Partners and welcome (or welcome back) to PitchIT: a weekly snapshot describing one of the most interesting early-stage companies in the Italian startup ecosystem in 3 minutes or less. In this issue, we'll take a look at Drype: a startup aiming to cut carbon emissions in the alcoholic beverage industry using water-soluble cocktail concentrates.

In a sentence:

Water-soluble alcoholic cocktails designed to reduce CO2 emissions in the beverage industry.

Problem:

In today's beverage industry, only 10% of a cocktail bottle's weight is attributable to aromatic essence and alcohol content, while the remaining 90% comprises heavy glass packaging and water. This excessive weight leads to storage challenges, slower unloading, waste management complications, and a significant increase in businesses' environmental impact.

Why now?

While the beverage industry has begun accepting and adopting innovation, there's still significant and urgent progress to be made in addressing climate change. Companies in various sectors, including detergents and beverages, are already working to reduce unnecessary weight and volume, which highlights the necessity for the beverage industry to catch up.

Market:

Based on recent top-down estimates, Drype’s TAM exceeds €65B euros in Europe, with a projected CAGR of 7.7% from 2023 to 2025. Their target clients include premium and luxury hotel chains, gourmet restaurants, catering services, airlines, and cruise ships. These businesses are seeking to streamline their logistics and offer a distinctive and sustainable cocktail menu.

Business model:

Drype's business model focuses on direct B2B sales channels, targeting hotel chains, restaurants, caterers, airlines, and cruise ships. They offer three distinct product categories: classics, custom-packaged, and co-branded products in collaboration with spirit brands, which generate a profit margin ranging from 55% to 75%.

Team:

Lucia Marrocco, CEO & Co-Founder: Lucia, an energy engineer, oversees long and short-term planning, client relations, and community growth. She holds an MSc in Electrical Engineering from Politecnico di Milano and Alta Scuola Politecnica.
Thomas Bottalico, CPO & Co-Founder: Thomas, a product and communication designer, is responsible for product development and communication strategies. He holds an MSc in Design & Engineering from Politecnico di Milano.
Massimo Pierdomenico, CFO & Co-Founder: Massimo, an industrial designer with manufacturing industry expertise, manages production processes, legal matters, and fiscal responsibilities. He holds an MSc in Design & Engineering from Politecnico di Milano.
Additionally, Gerardo, a spirits specialist with eight years of cocktail bar experience, leads the creation and formulations of Drype’s product line.

Traction/Achievements:

Validated more than 20 potential clients, with a strong interest from hotels and resorts.
On-track to begin delivering the pre-sold products in early November.
Successfully participated in B4i's acceleration program and secured a 30k grant by winning the S2P challenge powered by PoliHub.

Basic info:

Company Name: Drype S.r.l.
Founding Date: 10/2022
Legal HQ: Vimercate, Lombardy, Italy
Operating HQ: Milan, Italy
P.IVA: 12661840962
Employee Count: 4 FTE
Past Investors: B4i, Camera di Commercio Monza Brianza Lodi (Grant)
Stage: Pre-seed in progress

Contact info:

For more information about Drype, please reach out to Lucia, co-founder/CEO:

Email: lucia@drype.it
Phone: +39 389 512 2944
Instagram: https://www.instagram.com/drype_cocktails
LinkedIn: https://www.linkedin.com/company/drype/

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Legal Disclaimer:

The sole purpose of the present company assessment (the “Pitch”) is to give to the recipient some additional background elements to decide whether to proceed with an investigation of the company who is the focus of the aforementioned Pitch (the “Company”). This Pitch is based on information, data, and estimates provided by the Company which may be inaccurate and may have not been audited, and publicly available information which have not been independently verified by Ulixes Capital Partners Srl. Any estimates and projections contained herein have been prepared by the Company and involve significant elements of subjective judgment and analysis, which may or may not be correct. This Pitch should not be considered as a recommendation by Ulixes Capital Partners or the Company or any of its direct or indirect shareholders and subsidiaries to invest in or otherwise acquire any interest in the Company.