Paperboat maker rasies Rs 182 crore from Catamaran, Footprint Ventures

Plans to use the funds to add third manufacturing facility in Nanjangud near Mysore

The makers of Paperboat, Hector Beverages, has raised Rs 182 crore from existing investors Narayana Murthy-led Catamaran Ventures, Footprint Ventures and Sequoia Capital.

Former Helion Ventures founder Kanwaljeet Singh, Advent Management, Hillhouse Capital Group and Helion Ventures participated in the fund raising that was done in two tranches in June, documents filed by Hector with the registrar of companies show.

The firm, founded in 2010 by former Coca-Cola India employees Neeraj Kakkar and Neeraj Biyani, is valued at $100 million. Neeraj Kakkar did not respond to calls and messages for comment.

Godrej Industries  Managing Director Nadir Godrej and Naresh Malhotra, chief executive of Modern Family Doctor and founding chief executive officer of Cafe Coffee Day are existing investors in the Indian traditional beverage firm.

Hector plans to use the funds to add third manufacturing facility in Nanjangud near Mysuru.