Cold-squeezed juices startup Raw Pressery has been Acquire by dip and sauces producer Wingreens Farms. The deals was at a valuation of Rs. 100-110 crore, and organized as an offer trade. The Raw Pressery organizers have apparently left their stakes in the company.
Yet, this probably isn’t the result that the founders would’ve expected — only two years prior, Raw Pressery had been esteemed at Rs. 500 crore while raising assets. The organization had raised a sum of $41.3 million (~Rs. 280 crore) in the course of the most recent seven years, so Rs. 100 crore exit would’ve likewise implied a huge hair style for investors.
Raw Pressery was confronting a money crunch, and was hoping to get control over misfortunes. In 2018, the startup had announced incomes of Rs. 33 crore, however had wound up with misfortunes of Rs. 48 crore. Raw Pressery had been founded in 2013 by Anuj Raykan to give premium cold-squeezed juices to shoppers.
Cold-squeezed juice is extricated utilizing a water powered press, instead of different strategies, for example, outward or single drill, and is supposed to be better and additive free.
Raw Pressery had started its excursion selling at premium general stores including Foodhall and Godrej Nature Fresh, and had likewise figured out how to catch some huge name investors — entertainer Jacqueline Fernandes had put resources into the organization, as had Sequoia Capital.
In any case, apparently the organization found it difficult to downsize tasks and cut its money consume, and is currently selling out to Wingreens Farms. Wingreens Farms makes premium plunges, flavors and pastas, so it has generally a similar client base as Raw Pressery, and would have the option to advertise its items to them.
Like Raw Pressery, it likewise has Sequoia as a speculator, so it’s conceivable the arrangement was prodded along by the VC firm. The market for better refreshments, however, is filling as of late.
Both Pepsi and Coke have dispatched juice brands — Pepsi, for example, possesses Tropicana, and Coke claims Minute Maid. There are additionally startups that have taken a gander at the space — Paper Boat has dispatched its own line of Indian juices, and it hoping to take on the big deal.