Gurgaon based Hector Beverages Private Limited has raised $8 million in an investment round led by Sequoia Capital, with participation from existing investors Catamaran Ventures and Footprint Ventures. Hector Beverages, which makes the energy drink Tzinga, will use the funds primarily for marketing and expansion of production capacity.
With this new round the company had raised total of $10.5 million from investors. Earlier it had raised $2.5 million from Catamaran Venture Fund, Footprint Ventures and four other angel investors.
Hector Beverages was launched in 2009 by three former Coca-Cola India executives, Neeraj Kakkar, Suhas Misra and Neeraj Biyani, and former Dow Chemicals employee James Nutall. The company has recently forayed into traditional functional beverage space with ‘Paper Boat. Paper Boat, the drink, comes in two variants – Aamras and Jaljeera.
Tzinga was launched in Delhi and Bangalore last year, followed by Jaipur, Jodhpur and Hyderabad, and is now available in 7,000 outlets which would be increased to 100,000 outlets by the end of the year.American venture capital firm Sequoia capital which is largely known for investing in technology and consumer Internet companies like Google, PayPal, Cisco and Linkedin, has been open to investing in food and beverage space in India.
Sequoia had invested $20 million in Cafe Coffee Day (CCD) in 2006. Sequoia invested $4 million in Best Food Enterprises, a company which sells ready made food in India, last year. It invested in home delivery and takeout chain Faaso’s in July 2011 and Prataap Snacks in May 2011.