[dropcap]B[/dropcap]angalore-based ready-to-drink dairy beverage maker DropKaffe has raised a bridge round of $500,000 (Rs 3.33 crore), which was led by Kanwaljit Singh of Fireside Ventures. Other investors in the round included GrowthStory, and High Networth Individuals including Apurva Salarpuria of Salarpuria Group, CEO of Naukri Hitesh Oberoi, and Nirupa Shankar of Brigade Group.
Launched last year, the firm manufactured a line of cold coffees and bottled dairy beverages including milkshakes, and it markets them to over 100 modern trade stores in Bangalore including More, Foodhall, Godrej Nature’s Basket and more.
The DropKaffe has established a unit with potential to produce 20,000 units per day at the cost of Rs 25 lakhs. It has also partnered with National Dairy Research Institute for its new line of fruit-based smoothies that have a shelf-life of 30 days and does not contain preservatives.
Chaitanya Chitta, co-founder at DropKaffe, said, “We have our own brewing techniques and make sure that bean-to-bottle takes a week, and all our product lines are preservative free.”
The focus has shifted from fizzy drinks in the India markets to innovative products. In its previous round of funding, DropKaffe was backed by Valley-based P39 Capital and other angels.
Last year, Paper Boat manufacturer Hector Beverages was valued at $100 million by Advent Management and Hillhouse Capital. Sequoia invested $4.5 million in bottled juice company RAW Pressery in February this year.
