Shortly after getting actress Jacqueline Fernandez on board as brand ambassador, Rakyan Beverages – the parent company of organic juice start-up Raw Pressery – has raised US$6 M (INR 40 Cr) from existing investors Sequoia Capital, Saama Capital and DSG Consumer Partners. This funding will be used to augment a number of development aspects that the start up has planned for itself.
Growth & Reach
“The company has grown 120% since last year, on the back of greater distribution (reach) and acquiring more accounts. Geographically, we are now in 15 cities in India and we are also available in Dubai, Abu Dhabi and Doha. We have just forayed over there. In India, we are available at 1,600 points of sale”, Inc42 quoted Raw Pressery founder Anuj Rakyan.
Raw Pressery plans to utilize the freshly-raised funds in fuelling its growth and reach across Indian and internationally as well, especially in the West Asian market with special focus on Saudi Arabia and the UAE.
Product & Manufacturing
Meanwhile, it also plans to expand its product portfolio. As mentioned by Rakyan, over the last one year, the start-up’s folio has flourished beyond juices to include smoothies, organic coconut water and almond milk. This existing range will now be accentuated by the addition of products in five categories: juices, soups, smoothies, coconut water and lemonade, and nut milk.
In addition to boosting its range and reach, Rakyan Beverages is also looking to increase its manufacturing capacity by setting up a production unit in the Middle East next year. This will no doubt aid the company’s expansion. A portion of the funds will also be spent on developing the company’s cold chain logistics infrastructure as well as other operating expenses including marketing and talent acquisition, reports Inc42.
Founded in 2014, the start-up had previously secured USD 543,000 (INR 3.5 crore) from its (now) brand ambassador, Fernandez. Before that, in February 2016, the company had bagged a sizeable sum of US$4.5 M in a Series B round at similar valuation from Sequoia Capital, Saama Capital Management and DSG Consumer Partners; and a US$1.8 M funding in 2015 from Sequoia Capital.
Feature Image: KNKX