White Owl, an Indian company that makes and sells beer, has received an investment of INR 40 crore from IIFL India Private Equity Fund and other existing investors, cited Mint.
White Owl plans to use the infused capital to strengthen White Owl’s presence in its existing markets, expand the brand’s presence to new markets (within India and abroad), and surge its portfolio to include both Strong Craft Beer and Kegged Craft Beer nationwide.
Till date, White Owl has bagged INR 70 crore.
“We are thrilled to deepen our relationship with the IIFL Asset Management Team that shares our ethos of ambitious growth coupled with disciplined business practices. The beer market in India is an incredibly exciting and dynamic space with robust long term growth drivers, driven by incredibly smart consumers. We will remain relentlessly consumer-focused and committed not only to top quality beer but also to new styles of craft beer that just aren’t available in India today,” Javed Murad, Founder of White Owl said.
Javed Murad is the lone proprietor of White Owl and started the business in 2013. It is a Mumbai-based, Award-Winning Brewery renowned for handcrafting beer using the finest of natural ingredients from around the world.
As per the company’s official LinkedIn profile, it armed with an extensive craft beer portfolio featuring an eclectic selection of old-world & new-age styles, White Owl advocates small-batch brewing of crisp, complex flavours & distinct aromas under the leadership of a highly-experienced & internationally-trained brewing team.
While, as of August 2019, White Owl distributes its craft beer on Tap, in Bottles and in Cans at over 2,500 restaurants, bars & retail stores across Mumbai, Pune, Goa, Bengaluru & Delhi with several new geographies in the pipeline.
The eponymous beer brand White Owl also plans to integrate a balanced focus on expanding its geographical footprint and its broader craft beer portfolio.
According to the sources, the company is looking to enter five new markets pan north and south India as well as two international markets by the end of FY20.
“It’s remarkable to see how White Owl has expanded beyond just a single point of sale in Mumbai to over 2,500 bars and wine shops across the country in just a few years. We look forward to building a strong partnership with White Owl’s incredibly committed and disciplined management team as they propel their brands to inevitable market leadership,” Prashasta Seth, Senior Managing Partner, at IIFL Asset Management said.