Punjab based Lahori raises $15 million from Belgium based Verlinvest
- ByTejika Bajaj | January 11, 2022
The Punjab based D2C (direct-to-consumer) beverage company Lahori has recently announced that it has raised a sum of $15 million from a Belgium based consumer focused investor Verlinvest for a minority stake in the former. The stake that Verlinvest has received against the capital infusion still remains undisclosed.
The beverage brand will primarily deploy the freshly infused funds to improve its brand’s growth through online as well as offline expansion. Further, the startup also intends to enhance the domestic presence of the brand in its retail chains. The company officials have additionally revealed that the funds will be utilized for the development and launch of a new category of products.
Expressing his views on the recent round of capital infusion, the co-founder of Lahori, Saurabh Munjal said, “Through our unique positioning in the beverage segment of providing desi drinks we wish to expand our presence across India within the next three years.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.”
Owned by the Evergreen Investment group, Verlinvest is a globally owned multi-billion dollar asset management firm. Till date, this investment group has invested in a multitude of Indian startups ranging from Sula, Epigamia, Bjyu’s and Purplle to name a few.
“Given the legacy of our Belgian family shareholders, beverages are a core focus area for us,” said 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.”
Follow Startup Story
Related Posts
