Lahori, a Punjab-based beverage startup, announced it has raised $15 million funding from Belgium-based consumer focused investor Verlinvest for an undisclosed minority stake.
Lahori will use the funds to double down on its brand’s growth through offline & online expansion and will also enhance the national presence of the brand in retail chains. The fresh fund will also be utilized for the development and launch of new category-creating products.
The capital raised in this round will be used to expand production capacity and towards accelerating branding and marketing efforts, the statement said.
Verlinvest is a global, family-owned evergreen investment group with multi-billion dollar assets under management backed by families who have together built one of the world’s largest consumer beverage businesses. Verlinvest has invested in several beverage firms globally, backing multiple billion dollar brands such as Oatly, Vita Coco, Hint water, among others. It also counts brands such Sula, Veeba, Epigamia, Byju’s, Purplle and Wakefit among its portfolio in India.
Speaking on the occasion, Saurabh Munjal, Co-founder & CEO, Lahori, said, “We are delighted to partner with Verlinvest in our journey to become a widely loved beverage brand in the country. We want to give Indian consumers beverage options which resonate with their taste palette. We know that the ethnic beverages market in India is underserved, and we have the vision to become a prominent force in this space.”
Shagun Tiwary Shah, Investor, Verlinvest said, “Given the legacy of our Belgian family shareholders, beverages are a core focus area for us. Lahori has become a dominant player in the space in a very short time, creating a product loved by the masses. Among all the beverage companies we have seen so far in India, Lahori stood out for its taste, product innovation and customer pull. We are excited to work with them on their next leg of growth.”
Pareto Capital, a Mumbai-based investment banking firm, was the sole advisor to the Company for this transaction and worked closely with the management team to bring the deal to fruition, a statement said.
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