Lahori, a direct-to-consumer beverage firm, has reportedly secured an investment of USD 15 million from Verlinvest, a consumer-focused investor based in Belgium, in exchange for a minority stake. Actual details of how much stake Verlinvest has acquired is yet to be known.
Punjab-based Lahori will use the Series A funding to strengthen its growth by expanding into both online & offline mediums, as well as augmenting the brand's national presence in retail chains. The fresh funds will also be used to develop and launch new category-defining products.
For those unaware, Verlinvest is a multibillion-dollar, family-owned evergreen investment firm with a global presence. In India, it has invested in numerous companies, including Sula, Epigamia, Veeba, Purplle, Byju’s, and Wakefit.
Lahori, meanwhile, with its unique positioning of offering localized drinks, intends to reinforce its presence across India over the next three years. The co-founder Saurabh Munjal mentioned that the firm aims to give consumers drinking options that appeal to their taste buds. Given that the Indian ethnic beverage market is currently underserved, the beverage maker intends to become a major player in this field, Munjal added.
If market speculations are right, India's non-alcoholic beverage market has been witnessing significant growth, with sales estimated to surpass USD 18 billion by 2026.
Shagun Tiwary Shah, an investor at Verlinvest, stated that in a short period of time, Lahori has managed to establish itself as a dominant player in the beverage space, creating a product that is well-liked by the general public. He added that Lahori stood out among all the beverage brands they have encountered in India so far for its taste, product innovation, and customer appeal.
Given that the majority of the population in India lives in Tier-II and III cities, price points have been a decisive factor in breaking into new markets and establishing a brand with loyal customers.
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