Bottled water brand Clear Premium Water raised Rs 45 Cr from JM Financial Private Equity
A fresh round led by JM Financial Private Equity has raised Rs 45 crore ($5.4 million) for the bottled water brand Clear Premium Water.
According to a press statement from Clear Premium Water, the investment’s proceeds will support efforts aimed at establishing the company’s brand and improve its current capabilities and distribution network.
Nayan Shah founded the company, which is becoming a prominent player in India’s retail market and in the HoReCa (hotels, restaurants, and cafés) sector. The company is extending its distribution network strategically throughout India, where it already has a presence.
The Pune-based Kelzai Secrets Pvt Ltd. was acquired by the Ahmedabad-based company in December for a 51% majority stake. Glass and PET bottles of volcanic water are available from Kelzai.
The company also announced the introduction of NubyClear (NU), a line of natural mineral water, in India last year.
From JM Financial Private Equity’s Fund III, this is the fifth investment. It has supported companies like PharmEasy, BigHaat Agro, and Silverpush in the past.
