Rakyan Beverages, a Mumbai-based startup that sells cold-pressed juices under RAW Pressery brand, has raised ₹40 crore from its existing investors.
The VC firms which participated in the current round include DSG Consumer Partners, Sequoia Capital and Saama Capital. Previously, the company had raised funding from these three VC firms in February last year.
Earlier this year, the company raised funding from Sri Lankan actress Jacqueline Fernandez. With this new funding round, valuation of the cold-pressed juice maker is now ₹120 crore.
The funding will be used by the company to boost its monthly production capacity to 5.5-6 lakh litres from 3.5 lakh litres. A part of the proceeds will also be used to ramp up the company’s cold chain logistics infrastructure and for marketing campaigns.
Currently, it is present in around 15 cities across the nation and is now planning to bolster its position in West Asia. It has recently entered Dubai, Abu Dhabi and Doha.
RAW Pressery was started in 2013 by Anuj Rakyan. Commenting on this development, he said:
The company has grown 120% since last year, on the back of greater distribution (reach) and acquiring more accounts. Geographically, we are now in 15 cities in India and we are also available in Dubai, Abu Dhabi and Doha. We have just forayed over there. In India, we are available at 1,600 points of sale.
In India, the company sells its products through modern retail outlets, including Nature’s Basket, Food Hall and HyperCITY. It also runs a subscription-based service in which juice bottles are delivered at the doorsteps of its registered users.
As per the company, it has more than 25,000 active customers, and produces 8,000 bottles a day. RAW Pressery is among a handful of Indian startups in healthy ready-to-drink beverages space.