The company will also be spending $3-5 million over the next 12-18 months, with a focus on digital and marquee sponsorship of events
Cold press juice brand, Raw Pressery, is looking at raising $10 million in fresh fundings over the next three months to fuel its expansion plans, a top company official has said.
Anuj Rakyan, Founder & MD, Raw Pressery, told PTI, "Over the next three months, we should be closing another round of funding. We are planning to raise around $10 million."
The Mumbai-based beverage firm, that also makes smoothies and soup, is planning to set up a manufacturing unit in Nashik next year, which will enhance its capacity by four times.
Rakyan said, "Next year we can look forward to a much larger capacity and also bigger cold storage for our sourcing facilities. The facility that we are looking to build in Maharashtra next year should be capable to take us through another 2-3 years before we set up something in the North."
He added, "The investment for Nashik facility would be in the range of $2-3 million. The capacity expansion would be at least 4x of what we are at today. We should be able to do 3.5 million units a month."
The company will also be spending $3-5 million over the next 12-18 months, with a focus on digital and marquee sponsorship of events.
It has recently forayed into the UAE with a view to tap the Gulf Cooperation Council countries and plans to set up a manufacturing plant there in future.
Rakyan added, "There will be a manufacturing set-up but we would start thinking about it only 12 months later and I would assume over the next three years, exports should be at least 15-20 percent of our topline."