Tzinga Energy Drink raises $8 Million
Hector Beverages Pvt. Ltd, the maker of the popular Tzinga Energy Drink, has been able to raise about $8 million from Sequoia Capital and others existing investors including Catamaran Ventures and Footprint Ventures.
The company has said that it will use the raised funds mainly for marketing and expansion of production capacity, it said in a statement. Tzinga Energy Drink has emerged as leading energy drink in several markets in the country and the additional funds will allow the company to consolidate its position and penetrate deeper into the Indian market to boost its presence across markets.
Gurgaon-based, Hector Beverages recently announced the launched of Paper Boat, which comes in two traditional Indian variants, Aamras and Jaljeera. It already sells Tzinga Energy Drink and protein drink 'Frissia'. The company is planning to increase Tzinga in the country's top 30 cities
"We are delighted to have Sequoia Capital as a partner in this journey. Sequoia's legacy, network, expertise in consumer area and quality of team were all key parameters which made the decision very easy," Hector's CEO Neeraj Kakkar said.
Sequoia Capital India Advisors Managing Director VT Bharadwaj expressed delight over the opportunity to partner with Mr. Kakkar and his team behind Hector Beverages. Sequoia Capital currently manages funds close to USD 1.4 billion has invested in diverse fields.