Craft beer maker Cerana Beverages raises fresh angel funding
Craft Beer maker Cerana Beverages Private Limited has raised fresh capital from angel investor Apurva Salarpuria, which comes in addition to the amount that the firm raised in its seed round last month, a top company executive told VCCircle.
Ankur Jain, founder and chief executive officer of Cerana, said, “With this investment, our original seed round has been oversubscribed to 3x the initial plan.” He did not disclose the amount raised by the firm.
Salarpuria is the first India-based investor for the company, which had earlier roped in overseas private investors in its seed round. He hails from the privately held Salarpuria Group, whose primary business interest is real estate development and is active in Bangalore, Pune, Kolkata and Hyderabad.
Apurva is one of the founding members of Calcutta Angels. However, the investment in Cerana is not through the angel network. His other recent investments include QSR chain Mast Kalandar, which has also got funded by Helion Venture Partners; and Hokey Pokey, a branded ice cream play in India.
Cerana Beverages will use the money to roll out its proprietary draft beer dispense network in 200 outlets in Delhi and Mumbai this fiscal and also to launch Biru – the first Indian packaged craft beer brand in August this year in the top cities of the country.
Currently, beer is one of the largest consumer beverage categories in India with a market size of $5 billion compared with $300 million for branded café/coffee market.
Cerana Beverages has a portfolio covering major beer styles and more than 20 brands, including Belgian Blonde Ale of Duvel, Fruit Beers of Liefmans, Trappist Beers of Chimay, and one of the largest Spanish beer brands of Estrella Damm.
It has exclusive import and marketing rights in the subcontinent from seven breweries and has an established presence in India and the South Asian sub-continent, with sales, marketing and distribution network in the all major urban centres in India.
(Edited by Joby Puthuparampil Johnson)
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Cerana Beverages Pvt. Ltd. is engaged in manufacturing and marketing of craft beer. It offers fine beverages, specialty craft and wheat beers under the brand names Bira 91 White and Bira 91 Blonde. The firm also imports and distributes a portfolio covering major beer brands. The company was founded in 2008 and is based in New Delhi, India.