Summers in India can be quite harsh, with the scorching heat, the humidity, and the pollution, making us constantly crave cool, refreshing drinks. And bottling up our favourite summer drinks to enjoy on the go is Paperboat. Launched by Hector Beverages in 2013, this brand has over the years emerged as one of the leading brands and an absolute favourite. Paperboat bottles up nostalgia in the form of drinks and the man who co-created this brand and leads it is Neeraj Kakkar. Paperboat teleports you to your childhood summer days in an instant.
Neeraj Kakkar, Neeraj Biyani, Suhas Misra, and James Nuttall established Hector Beverages in 2009. The business’s first item was a protein beverage called Frissia, then in 2011, the energy drink brand Tzinga was introduced.
Heading Hector Beverages- Neeraj Kakkar
Neeraj Kakkar who now heads the brand, completed his diploma from the Management Development Institute, Gurgaon and went to the Wharton School to pursue an MBA. He began his corporate journey with Coca-Cola as a General Manager. After 6 years, he exited and started his own venture, Hector Beverages.
The business introduced Paper Boat, a fruit pulp-based beverage brand, in March 2013 and moved its attention to the traditional flavoured drinks market. The brand aimed to reintroduce traditional Indian beverages into a contemporary setting with their quirky packaging and unique flavours.
The story behind Paper Boat
The idea of commercializing traditional drinks to create the brand came to Misra when, at a previous workplace, his mother would pack a flask of aam panna for him to drink. And the idea of bottling up these drinks for commercial profits came to him as they were discussing business ideas, he reached for the flask and had the epiphany to commercially create traditional Indian drinks that weren’t yet accessible on the market. And thus, Paper Boat was conceived.
In an exclusive interview with Forbes, while talking about the brand’s beginnings, Kakkar said “We have this thing every day, we love it and it’s not available anywhere. So why not launch it?” He asserted “Functional beverages are growing and will grow in India also. But instead of replicating the West, Indian functional beverages are the way to go for us.”
They started testing the product in March 2013 and haven’t looked back since. In various major metropolises and small towns, Paper Boat’s well-known aam panna, aamras, jaljeera ,and kokum packages line the shelves of department stores and neighbourhood kiranas. They are also available as a beverage choice on flights and trains. The company has had steady three-digit percentage growth and is currently valued at more than $100 million as per Forbes 2016.
When co-founders Misra and Nuttall left the company in 2014 and 2015, respectively, leaving Kakkar and Biyani in charge, the company underwent a few organisational adjustments but has overcome the hindrances and remained profitable.
Aam Ras and Anar, two of Paper Boat’s most well-known beverages, were introduced in 500 ml Tetra Prisma Aseptic (TPA) packets in 2016, in an effort to increase household consumption of the brand. When the company expanded its selection in 2017 and introduced its beverages in 1 litre Tetra Prisma Aseptic cartons, the 500 ml packets were phased out. The brand’s exposure to the multi-serve sector was increased by this action.
In 2016, Paper Boat entered the traditional cuisine market by releasing the Indian snack peanut chikki. Paper Boat Foods strives to give ethnic Indian snacks in modern, contemporary packaging while adhering to the main brand idea.
Paper Boat net worth
Catamaran Ventures, which is run by N.R. Narayana Murthy, Footprint Ventures, and Sequoia Capital, among other investors, provides funding for the business. The parent business of Paper Boat, Hector Beverages, had a 35% growth in total sales in the fiscal year that ended on March 31, 2022. Total income for the startup funded by GIC increased by 1.3X to Rs 331 Cr in FY22 from Rs 244.9 Cr in FY21, as per Inc42 media.
