Cold press juice brand Raw Pressery is looking at raising $ 10 million in fresh fundings over the next three months to fuel its expansion plans, a top company official has said.
Cold press juice brand Raw Pressery is looking at raising $ 10 million in fresh fundings over the next three months to fuel its expansion plans, a top company official has said. “Over the next three months, we should be closing another round of funding. We are planning to raise around $ 10 million,” Raw Pressery founder and managing director Anuj Rakyan told PTI. Started in 2013, the company has managed to get funding of over $ 10 million so far from investors like Sequoia Capital, Saama Capital Management and DSG Consumer Partners, among others. The city-based beverages firm that also makes smoothies and soups is planning to set up a manufacturing unit in Nashik next year, which will enhance its capacity by four times. “Next year we can look forward to a much larger capacity and also bigger cold storage for our sourcing facilities. The facility that we are looking to build in Maharashtra next year should be capable to take us through another 2-3 years before we set up something in the North,” Rakyan said.
“The investment for Nashik facility would be in the range of $ 2-3 million. The capacity expansion would be at least 4x of what we are at today. We should be able to do 3.5 million units a month,” he added. The company will also be spending $ 3-5 million over the next 12-18 months, with a focus on digital and marquee sponsorship of events. Raw Pressery has presence in 12 cities across the country and has been witnessing a growth of 130-140 per cent year on year. Started through a home-subscription model, the company now gets 70-75 per cent of its revenues from modern trade, 20 per cent from institutions and the remaining from home delivery.
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It has recently forayed into the UAE with a view to tap the Gulf Cooperation Council countries and plans to set up a manufacturing plant there in future. “There will be a manufacturing set-up but we would start thinking about it only 12 months later and I would assume over the next three years, exports should be at least 15-20 per cent of our topline,” he said.