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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Once written off by many, the startup today has become a perfect example of how food and beverage businesses should be built in India.
Editor's note: For years, it seemed Hector Beverages had struck gold. Paper Boat, the Bengaluru-based beverage startup’s line of packaged drinks launched in 2013, was wildly popular in the big cities. It simultaneously invoked nostalgia and novelty with local Indian flavours like aam panna and jaljeera as well as standout packaging. Paper Boat was hailed as a disruptor in a sector until then dominated by apple, mango and orange juices. For Hector Beverages, founded in 2009 by former Coca-Cola executive Neeraj Kakkar, it was a win after two mediocre attempts (a protein-water drink called Frissia and an energy drink called Tzinga). On the back of Paper Boat, Hector Beverages raised more than $40 million from venture capital investors such as Sequoia Capital, Sofina and Catamaran Ventures. Then it hit a wall. The company discovered that the product was too premium to be scaled. Over the years, competition had grown and the company was losing momentum. Commentators began to write it off, and by 2018, many thought the startup would fade away as another also-ran. But Kakkar and his team have finally made …
The food-tech pioneer is on the brink of losing its decade-long fight for survival, laying bare the pitfalls of the cloud kitchen business.
While the Rs 9,000 crore promoter investment in Q1 brings a measure of reassurance, investors will still have to wait for Jio and retail to work through their challenges.
In light of the recent exits of top executives at Swiggy’s quick commerce business, we look at the reasons behind the departures and whether it’s impacting the business.
