Hector Beverages raises $8 mn for expansion
New Delhi: Hector Beverages Private Limited, the maker of Tzinga energy drink, on Monday said it has raised USD 8 million in fresh funds.
Hector recently closed an USD 8 million investment round led by Sequoia Capital, with participation from existing investors Catamaran Ventures and Footprint Ventures, the company said in a statement.
"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.
Hector would use the funds primarily for marketing and expansion of production capacity.
"We are delighted to partner with Neeraj and his team in building an enduring franchise in the functional beverages space," Sequoia Capital India Advisors Managing Director VT Bharadwaj said.
Sequoia Capital in India currently manages funds close to USD 1.4 billion and invests across venture, growth and late stage opportunities.
Over the last 5 years, Sequoia Capital has invested in more than 50 companies in India including Cafe Coffee Day, Idea Cellular, Just Dial, Manappuram Finance, Paras, Quick Heal, Micromax, Mu Sigma and Vasan Health Care.