Bottled Water Brand Energy Beverages Secures INR 45 Cr from JM Financial Private Equity The Ahmedabad-based startup intends to infuse the funds to accelerate its present and future expansion goals.
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Bottled water brand Energy Beverages Pvt Ltd has raised INR 45 crore in a new round from JM Financial Private Equity. This is the fifth investment made by JM Financial Private Equity through its Growth Fund III. API Holding, Aarman Solutions, BigHaat Agro, and Silverpush are among the current investments made by the fund.
According to the official release, the company, which owns the bottled water brand "Clear," intends to infuse the funds to accelerate its present and future expansion goals.
Nayan Shah, Founder and CEO, Energy Beverages Pvt Ltd, said, "At Clear, quality and innovation are pillars of our core philosophy. Pioneering vertical labelling and square-shaped bottles and introducing sustainable options demonstrate our commitment to innovation."
"Our company has witnessed exponential growth in the last three years, and we envisage an even more accelerated trajectory in the coming years. The capital infusion and partnership with JM Financial Private Equity will help us fast-track our current and future expansion plans. Our focus is on crafting a preeminent bottled water brand synonymous with trust and quality," he added.
Established by Nayan Shah, the company operates in the HoReCa (hotels, restaurants and cafes) industry and is expanding its presence in the Indian retail sector. The firm claims that it is extending its distribution network strategically throughout India, where it already has a presence.
Darius Pandole, MD and CEO, Private Equity, JM Financial, said, "The Indian bottled water market is highly under-penetrated and fragmented, and we are witnessing a structural shift in consumption from the unorganised to the organised market, owing to factors like hygiene, and a general rise in health awareness in a post covid world. Clear has exhibited remarkable growth, securing a presence across the country. Backed by an experienced management team, Clear is poised to ascend and cement its position as one of the nation's premier bottled water brands."
