Energy Beverages’ Clear raises Rs 45 crore from JM Financial PE

Fundraise: Energy Beverages Private Limited, owner of bottled water brand Clear has raised Rs 45 crore from JM Financial Private Equity, the company said on March 14.

The company will utilise the investments for distribution and brand building, it said in a statement.

Found by Nayan Shah in 2005 who has 18 years of experience in the beverage industry, the Gujarat-based company has over 1,600 clients in the HoReCa (hotels, restaurants & cafés) segment and a presence in 80,000 retail markets.

Nayan Shah, Founder and CEO, Energy Beverages said, “Our company has witnessed exponential growth in the last three years, and we envisage an even more accelerated trajectory in the coming years. The capital infusion and partnership with JM Financial Private Equity will help us fast-track our current and future expansion plans.”

The company said it has sustainable options, and was among the first to foray into vertical labelling and square-shaped bottles.   

The investment by JM Financial marks its fifth investment from Fund III, in line with its strategy of investing in mid-market companies. 

Darius Pandole, MD and CEO - Private Equity, JM Financial said “Clear has exhibited remarkable growth, securing a presence across the country. Backed by an experienced management team, Clear is poised to ascend and cement its position as one of the nation’s premier bottled water brands.”

With the Indian bottled water market highly under-penetrated and fragmented, the fund said it is witnessing a structural shift in consumption from the unorganised to the organised market.

Factors affecting this shift include hygiene, and a general rise in health awareness in a post-COVID world.

Energy Beverages in December acquired 51 per cent of majority stake in Pune-based Kelzai Secrets Pvt Ltd, which offers volcanic water in PET and glass bottles.

The company also launched its natural mineral water brand NubyClear (NU) in India last year.