Beverage brand Lahori secures $15 million funding from Verlinvest

The Punjab-based company will use the Series A funds to double down on its brand’s growth through offline and online expansion and will also enhance the national presence of the brand in retail chains. “The fresh fund will also be utilised for the development and launch of new category-creating products,” the release said.

Verlinvest is a global, family-owned evergreen investment group with multi-billion-dollar assets under management. In India, it has invested in several companies, including Sula, Veeba, Epigamia, Byju’s, Purplle and Wakefit.

Lahori, with its unique positioning of providing desi drinks, plans to expand its presence across India in the next three years. “We want to give Indian consumers beverage options which resonate with their taste palette,” said Saurabh Munjal, cofounder of Lahori. “We know that the ethnic beverages market in India is underserved, and we have the vision to become a prominent force in this space.”

According to the release, the non-alcoholic beverage industry in India is growing at a phenomenal rate and is expected to exceed $18 billion by 2026.

In India, given that the majority of the population is in Tier-II and III cities, price points have been a critical aspect in penetrating the markets and building a brand with customer loyalty. The Indian market remains underpenetrated with low per capita consumption at about 5.5 litres per annum despite the population size vis-à-vis the per capital consumption of some other nations, such as the US, which is estimated to be at least 20x higher.

Discover the stories of your interest

“Given the legacy of our Belgian family shareholders, beverages are a core focus area for us,” said Shagun Tiwary Shah, investor at Verlinvest. “Lahori has become a dominant player in the space in a very short time, creating a product loved by the masses. Among all the beverage companies we have seen so far in India, Lahori stood out for its taste, product innovation and customer pull.”