According to Entrackr, Hector Beverages, the parent business of Paper Boat and an Indian beverage maker, is attempting to raise $50 million from GIC, a Singapore-based sovereign fund. The money will be used to cover “other general working capital requirements” and “enterprise expansion.”
GIC will own 25% of Paper Boat after the transaction. Paper Boat’s worth after the round is anticipated to be US $205 million. According to reports, it has a secondary component worth $20 million.
Prior to this, Paper Boat had funded more than $100 million USD across 14 rounds. Sequoia Capital, Trifecta Capital, and Catamaran Ventures are among its supporters.
In 2009, Paper Boat was established by former Coca-Cola executives Neeraj Kakkar and Neeraj Biyani. A variety of liquids, conventional Indian munchies, and dried fruits are also available.
