Goa-based startup Latambarcem Brewers (LB Brewers) has successfully raised Rs 120 million (£1.1 million) in a pre-series A funding round, which will be used to fuel the company’s expansion into European markets. The round was led by LBB Investor SPV, a collective of high-net-worth angel investors, including Dhruv Agarwala, co-founder and CEO of REA India, the parent company of Housing.com. Additional investors in the round include Sheba Venture Holdings.

Founded in 2017 by brothers Aditya Ishan Varshnei and Anish Varshnei, LB Brewers initially launched its flagship Maka Di beer brand. The brand’s portfolio features a variety of craft beers, including a Belgian Tripel, Honey Ale, Bavarian Keller, and a Rosé Brut IPA made with grapes from Nashik, a wine-producing region in western India.

Expanding into kombucha and functional drinks

In July 2019, the company expanded its product offerings with Borécha, a brand dedicated to producing kombucha and other functional beverages. With the new funding, LB Brewers aims to accelerate the growth of both Maka Di and Borécha while maintaining the high-quality standards that have earned the brands recognition in international markets.

Rob Axenrod of LBB Investor SPV expressed enthusiasm about the investment, stating, “We are thrilled to partner with Ishan and Anish, and to lead this investment, which will significantly bolster the company’s growth trajectory. The enhanced resources are poised to take Borécha and Maka Di to new heights, bringing exceptional craft beverages to a wider audience while maintaining the quality and authenticity that customers have come to love.”

Targeting European markets

Currently, LB Brewers is already present in global markets such as the US, Canada, and the United Arab Emirates. The new funding will be directed towards expanding the company’s reach into 11 European markets, positioning the brand to tap into new opportunities within Europe’s growing craft beverage sector.

The company’s expansion plans also include a target of achieving Rs 3 billion in annual revenue within the next three years, as reported by Indian Startup News. With the backing of angel investors and a growing portfolio of beverages, LB Brewers is poised for significant growth in the coming years.

CEO Aditya Ishan Varshnei discusses the funding milestone

Aditya Ishan Varshnei, CEO of Latambarcem Brewers, called the funding a “significant milestone” for the company. He emphasized how the capital infusion would allow the company to enhance its marketing strategies, expand its team, and improve the availability of its beverages across India. “This investment will allow us to amplify our efforts and reach new heights,” said Varshnei, adding that the company was excited to bring its products to even more consumers around the world.

As LB Brewers continues to expand its reach and refine its product offerings, the company is setting its sights on becoming a key player in the global craft beverage market. With its growing international presence and diverse product range, Latambarcem Brewers is well-positioned to meet the increasing demand for craft beer and functional drinks.