Business Standard

VEEN set for its debut crowdfunding round


Premium beverage company from Finland, VEEN announced their first round of crowdfunding beginning March 2019 worldwide. Looking at raising INR 9.7 Cr./ 1.2mn Euros in this round, VEEN is offering equity of 6.47 per cent-15.08 per cent through somewhat of a mini IPO.
VEEN is taking a modern and unique approach of using, a reputable fully regulated online platform based in Helsinki, Finland, to raise funds through private individuals as well as institutional investors. The crowdfunding round begins on 12th March and will be open to investors around the globe until April 02, 2019.
With the growing demand for 100 per cent natural food and beverage products in environmentally responsible packaging, VEEN has seen unprecedented growth both internationally and in India. The business has been valued at INR 52.5 Crore/EUR6.5m and is expected to achieve estimated revenue of INR 26 crore/EUR3.2m in this year.
Established in 2006, VEEN today employs 54 people in 6 countries with a robust sale and distribution network in 17 countries and a portfolio of 20 products. In just over a decade, VEEN has carved a niche for itself by building a unique set of global premium accounts in 16 countries within the premium HORECA (Hotel, Restaurant and Catering) channels and is now set to the enter premium retail channels.
Aman Gupta, Managing Director, VEEN acquired the controlling stake of the company in 2012 and has since developed the brand in multiple markets, making India the biggest market of all. "The past few years have been extremely gratifying and solidifying for VEEN as a brand. Having said that we are confronted with an exponential growth opportunity in the Indian subcontinent and the Middle East and in order to accelerate this growth, we are looking to attract additional investment from investors looking to benefit from the global growth of the brand", said Aman Gupta.
One of those individuals, Siddharth Bindra, Managing Director, BIBA has already come on board to be one of the first crowdfunding investors. "The natural food and beverage category in India and globally, is changing and growing rapidly. VEEN has established itself strongly as a premium high-quality player within this category. The brand's unique portfolio and imminent entry into retail gave us confidence in the business model which I believe is highly scalable and allows for a high return on investment", said Bindra on his choice of investing in VEEN.
The VEEN team plan to grow the business, profitability and its operations in a way that could attract a further round of investment around 2021. "In our opinion, the combination of the premium Finnish brand, the HORECA/retail focused channel strategy and the route to market to the Indian subcontinent would be a very attractive investment/acquisition for a potential food/beverage player looking to diversify their portfolio and distribution in the future", explained Gupta.
VEEN is offering its shares at a minimum investment of 50 shares at a share price of EUR8.56 per share which is EUR428 (INR 35000) in order to make the ticket size affordable for smaller investors (individuals) also.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.

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First Published: Mar 29 2019 | 12:15 PM IST

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