Jacqueline Fernandez invests Rs 3.5cr in Rakyan Beverages

Following the global trend of celebrities investing in brands, instead of endorsing them, Bollywood actress Jacqueline Fernandez has invested Rs 3.5 crores in Rakyan Beverages that makes juices under the Raw Pressery brand.

According to the Economic Times report, Fernandez is "India’s first celebrity to part-finance a consumer products firm, and help drive sales."

The latest investment pegs the company’s valuation at about Rs 120 crore. Last year, the startup raised close to $4.5 million in Series B funding from Sequoia Capital, Saama Capital Management and DSG Consumer Partners.

Anuj Rakyan, the founder of Rakyan Beverages, said, “While professional investors take calculated risks, celebrities are believers and users of the brand. Jacqueline has about 13 million followers just on Instagram and can influence buyers. Hence, she is not an ambassador but an evangelist who can have an impact on the topline.”

The company is planning to raise $10 million by December this year with an aim "to spruce up manufacturing and marketing". Last month, the startup clocked sales of 8 lakh units.

Other international celebrities who have invested in startups  include names like singer Madonna who has funded coconut water brand Vita Coco, rapper 50 Cent has a minority stake in Glaceau vitamin water, while Beyonce invested last year in watermelon-water startup WTRMLN WTR.