Punjabi based Beverage maker Lahori raises $15 million led by Verlinvest
Lahori, a direct-to-consumer beverage firm, has acquired a $15 million investment from Verlinvest, a consumer-focused investor located in Belgium, in exchange for a minority ownership. It didn't say how much of a stake Verlinvest has chosen.
The Punjab-based firm will utilise the Series A financing to double down on its brand's growth by expanding both offline and online, as well as expanding the brand's national presence in retail chains. "The new money will also be used to develop and launch new category-creating items," according to the press release.
Verlinvest is a multibillion-dollar, family-owned evergreen investment firm with a global presence. Sula, Veeba, Epigamia, Byju's, Purplle, and Wakefit are among the firms it has invested in India.
Lahori, with its unique positioning of providing desi drinks, plans to expand its presence across the nation in the next three years. “We want to give Indian consumers beverage options which resonate with their taste palette,” says Saurabh Munjal, cofounder of Lahori. “We know that the ethnic beverages market in India is underserved, and we have the vision to become a prominent force in this space.”
According to the press release, India's non-alcoholic beverage industry is booming, with sales expected to top $18 billion by 2026.
Given that the majority of the population in India lives in Tier-II and III cities, price points have been a critical factor in breaking into new markets and establishing a brand with loyal customers. Despite its large population, India's market remains underserved, with low per capita consumption of roughly 5.5 litres per year compared to per capita consumption in other countries such as the United States, which is expected to be at least 20 times higher.
“Given the legacy of our Belgian family shareholders, beverages are a core focus area for us,” says Shagun Tiwary Shah, investor at Verlinvest. “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.”
The Punjab-based firm will utilise the Series A financing to double down on its brand's growth by expanding both offline and online, as well as expanding the brand's national presence in retail chains. "The new money will also be used to develop and launch new category-creating items," according to the press release.
Verlinvest is a multibillion-dollar, family-owned evergreen investment firm with a global presence. Sula, Veeba, Epigamia, Byju's, Purplle, and Wakefit are among the firms it has invested in India.
Lahori, with its unique positioning of providing desi drinks, plans to expand its presence across the nation in the next three years. “We want to give Indian consumers beverage options which resonate with their taste palette,” says Saurabh Munjal, cofounder of Lahori. “We know that the ethnic beverages market in India is underserved, and we have the vision to become a prominent force in this space.”
According to the press release, India's non-alcoholic beverage industry is booming, with sales expected to top $18 billion by 2026.
Given that the majority of the population in India lives in Tier-II and III cities, price points have been a critical factor in breaking into new markets and establishing a brand with loyal customers. Despite its large population, India's market remains underserved, with low per capita consumption of roughly 5.5 litres per year compared to per capita consumption in other countries such as the United States, which is expected to be at least 20 times higher.
“Given the legacy of our Belgian family shareholders, beverages are a core focus area for us,” says Shagun Tiwary Shah, investor at Verlinvest. “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.”
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