Mumbai, July 29th, 2024 Latambarcem Brewers (LB Brewers), a rising star in India’s beverage scene founded by brothers Aditya Ishan Varshnei, co-founder & CEO, and Anish Varshnei co-founder & COO, has secured $1.5 million in a pre-series A funding round. The funding round was led by LBB Investor SPV, a group of prominent ultra-high-net-worth angel investors, alongside Dhruv Agarwala, CEO of housing.com, as well as Sheba Venture Holdings and other undisclosed investors. This investment will propel the company’s growth and solidify its position as a leader in the natural functional beverage space.
“We are thrilled to partner with Ishan and Anish, and to lead this investment, which will significantly bolster the company’s growth trajectory,” said Rob Axenrod of LBB Investor SPV. “The enhanced resources are poised to take Borecha and Maka Di to new heights, bringing exceptional craft beverages to a wider audience while maintaining the quality and authenticity that customers have come to love.”
Established in 2017, Goa-based Latambarcem Brewers has disrupted the Indian beverage market with its flagship brands, Maka Di and Borecha. Maka Di, Goa’s bespoke craft beer, launched in October 2020, is a craft beer brand that has garnered international recognition, winning awards at the Asia Beer Championship. The brand’s unique offerings, including a Belgian Triple, Super Maka, and Bavarian Keller, among others, have set it apart. Complementing Maka Di is Borécha, a functional beverage brand introduced in July 2019. This health-focused beverage has gained significant traction with a partnership with Akasa Air and, recently, Air India Express, making it the first kombucha and sparkling iced tea served on an Indian airline. Driven by a commitment to quality, innovation, and sustainability, Latambarcem Brewers has rapidly expanded its reach to the US, Canada, UAE, and other global markets. With ambitious plans to enter 11 European countries this year, the company is poised to become a global beverage leader, projecting Rs. 300 crore in annual revenue within the next three years.
LB Brewers plans to strategically utilise the funding to bolster its growth across several key areas. The company will focus on building a strong team of experts to drive expansion, implementing in-depth marketing initiatives to amplify brand awareness, and strengthening its supply chain infrastructure. This will allow for wider distribution across India and increased production capacity to meet the growing demand for their beverages.
“This funding is a significant milestone for LB Brewers,” said Aditya Ishan Varshnei, CEO of Latambarcem Brewers. “We’ve always prioritised building a solid foundation, focusing on exceptional R&D, product development, and packaging. This investment will allow us to amplify our efforts and reach new heights. We’re excited to expand our team, enhance our marketing strategies, and ensure wider availability of our beverages to consumers across India.”
Sarika Varshnei, CGO of LB Brewers, excitedly states that “This capital raise along with the ever-growing support of our customers, will help catapult our ‘Made in India Beverages’ into competition with major international beverage brands both in India and globally. With our vision of ‘Innovating Individuality’, we are committed to our mission to spark a genuine ‘liquid revolution’ in India.”
LB Brewers is poised for significant growth, driven by its unique product portfolio and strong market positioning. With the support of its investors and in collaboration with its advisors, Vikas Kochhar Associates as the transaction advisor and Rajaram Legal as the legal advisor, the company is excited to leverage the new investment to expand its reach and solidify its leadership in the beverage industry.
About Latambarcem Brewers: Founded in 2017 by Aditya Ishan Varshnei and Anish Varshnei, LB Brewers is a young, innovative beverage company with a vision to create a distinct market presence. The company operates under a holistic strategy, encompassing product development, manufacturing, supply chain, and brand building. LB Brewers boasts two main brands: Maka Di, offering a range of unique craft beers, and Borecha, a functional beverage brand featuring a range of health-forward beverages with a hero product being their probiotic kombucha.
