Bottled water brand Clear Premium Water has raised rs 45 crore ($5.4 million) in a new round from JM Financial Private Equity.
Proceeds from the investment will support brand-building initiatives and enhance the existing capacities and distribution network of the company, Clear Premium Water said in a press release.
Founded by Nayan Shah, the company is one of the notable players in the HoReCa (hotels, restaurants & cafés) segment and is gaining a footprint in the retail market in India. With a pan-India footprint, the company is strategically expanding its distribution across the nation.
In December, the Ahmedabad-based company acquired 51% majority stake in Pune-based Kelzai Secrets Pvt Ltd. Kelzai offers volcanic water in PET and glass bottles.
Last year, the firm also announced the launch of its natural mineral water brand NubyClear (NU) in India.
This is the fifth investment from JM Financial Private Equity’s Fund III. Previously, it backed PharmEasy, BigHaat Agro and Silverpush, among others.
