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Raw Pressery raises Series C funding worth $6 million from three firms
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Tuesday, 31 October, 2017, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Raw Pressery, India’s first and largest clean-label beverage company, received Series C funding worth $6 million from three equal partners - Sequoia India, Saama Capital and DSG Consumer Partners.
This was a follow-up to the first round that invited $4.5 million from Sequoia India in February 2016.
The company looks to utilise the said funds to expand its manufacturing capacity and distribution reach for new product launches. The funds will also be used for capital expenditure in the company’s cold chain logistics infrastructure, for other operating expenses, such as expanding headcount, and for marketing.
Founded in 2014 by Anuj Rakyan, Raw Pressery has now become a household favourite across a vast quality-conscious customer base.
It has grown 120 per cent since last year, on the back of greater distribution (reach) and acquiring more accounts.
Geographically, the brand is now at 1,600 points of sale (POSs) in 15 cities in India, and is also available in Dubai, Abu Dhabi and Doha.
“Raw Pressery is India’s first and largest clean-label beverage company. This means all Raw products are 100 per cent natural, free of added sugar and preservatives with easily identifiable ingredients and sustainable practices for procurement, production and waste management,” said Rakyan, who is also the company’s managing director.
“This philosophy is applied across our portfolio of juices, smoothies, ready-to-consume soups, coconut water and nut milks,” he added.
“The growing number of discerning consumers demanding natural, healthy and tasty products bears testimony to a market that is blossoming with opportunity,” Rakyan said.
“Raw Pressery is growing faster than any other beverage brand in the segment, as it services the market demand with clear focus on innovation and quality,” he added.
“A large part of the proceeds—around 40-50%—are going to go for capital expenditure, to increase our production capacity for keeping up with our expansion,” said Rakyan.
“Our current capacity is close to 3,50,000 litre a month. We will take this up to a range of about 5,50,000-6,00,000 litre per month,” he added.
The funding will also help the brand foray the Middle-East market, specifically in countries such as the United Arab Emirates (UAE) and Saudi Arabia.
On the product side, the company has, in the last 12 months, grown beyond juices to selling smoothies, almond milk and coconut water.
Raw Pressery recently started selling ready-to-consume soup. It plans to add new products in each of the five categories that it is in currently—juices, soups, smoothies, nut milk and hydration (coconut water and lemonade)—and launch dairy products.
“Most of the new product launches in the next six months will be within these five categories. For example, in hydration, we want to introduce water that will be functional water, not flavoured. Post-these, we will enter the dairy category,” said Rakyan.
While the focus right now is on building its beverage portfolio, the firm has also been working on products in the food space and hopes to expand into this category sometime next year or the year after.
“You will see us expand into fresh food. Our products are ready, and definitely in 2018 or 2019, you will see something coming out in that segment,” Rakyan informed.
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