 "Beverages start-up Lahori gets $15 mn from Belgian fund Verlinvest")
Punjab-based beverages start-up Lahori has raised USD 15 million from Belgium-based consumer-focused investor Verlinvest for a minority stake.
Lahori co-founder and Chief Executive Saurabh Munjal said the company will use the fund to double down on growth through offline and online expansion as well as to expand its retail presence apart from the development of new category-creating products.
Verlinvest is a leading global, family-owned evergreen investment group with multi-billion dollar assets under management backed by families who have together built one of the world's largest consumer beverage businesses.
Verlinvest has invested in several beverage firms globally, backing billion-dollar brands such as Oatly, Vita Coco, Hint water, among others. It also counts brands such Sula, Veeba, Epigamia, Byju's, Purplle and Wakefit among its India portfolio.
Shagun Tiwary Shah of Verlinvest said among all the beverage companies the country has ever seen, Lahori stood out for its taste, product innovation and customer pull. "We are excited to work with them on their next leg of growth."
The non-alcoholic beverage industry is expected to exceed USD 18 billion by 2026. The market remains underpenetrated with low per-capita consumption at about 5.5 litres per annum.
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