ASIA – Mumbai based venture debt fund for startups, Alteria Capital has invested US$4.80mn debt and equity capital in the maker of fresh, organic cold-pressed juice and beverages, Raw Pressery.
The new capital is meant to expand distribution domestically as well as in international markets such as the Middle East and Southeast Asia.
According to the company, the equity investment was its first since it started the fund which currently has commitments of more than US$78.81mn from investors like IndusInd Bank, SIDBI and a large domestic family office foundation.
Alteria has before provided capital in support of startups such as ready-to-cook meal brand Fingerlix, education technology platform Toppr and Universal Sportsbiz which owns fashion brands like Wrogn, Imara and Ms. Taken.
“We are seeing increasing interest in the Indian consumer segment and this investment is aligned with our belief that strong, Indian consumer brands backed by venture capital are going to create massive outcomes in the medium to long term,” said Vinod Murali, co- founder and managing partner, Alteria Capital.
Commenting on the investment Anuj Rakyan, founder and CEO, Raw Pressery said: “The Alteria team has always been very supportive of our vision and growth plans. The additional equity infusion will also provide a huge boost to us and we are excited with this partnership.”
The recent funding round is an extension of the US$11.45mn fundraise made by Raw Pressery in May this year from existing investors Sequoia Capital, Saama Capital and DSG Consumer Partners.
Raw Pressery, operated by Rakyan Beverages Pvt. Ltd provides healthy ready-to-drink beverages including juices and smoothies which forms majority of its revenues.
After recently introducing nut milk, soups and probiotic dairy drinks, the company said these new categories will be a key growth focus in this financial year.
It is positioning itself strongly in a market eyed by other players such as Fresh Food Concepts Pvt. Ltd and MyGreens which acquired Food Ideas Pvt. Ltd-backed JusDivine in an all-stock deal last year.