Paper Boat is Indian food and beverages producing company. They manufacture a range of Indian drinks and snacks that got served in tetra packs. The company's flavor reminds us of the childhood taste and fills our hearts with happiness.
Their significant business comes from tier-I cities such as Delhi, Pune, Mumbai, Chennai, etc. Let's get to know the success story of this unique startup.
Note: - Paper Boat was about to get acquired by Tata Global Beverages. They were planning to buy it in 2018 but, the deal didn't go as planned.
Paper Boat - Key Points
- Company Name - Paper Boat
- Founding Year - 2013
- Headquarters - Bangalore, Karnataka, India
- Sector - Beverages and Juice
- Owned By - Hector Beverages
- Market - India
- Founders - Neeraj Kakkar, Neeraj Biyani, Suhas Misra, James Nuttall
- No. of employees - 550
- URL - www.paperboatdrinks.com
Paper Boat Startup - Founding Members and Team
The company got founded by Neeraj Kakkar, Neeraj Biyani, Suhas Misra, and James Nuttall.
- Neeraj Kakkar - Co-founder and CEO
- Neeraj Biyani - Co-founder and COO
- Suhas Misra - Co-founder and Director
- James Nuttall - Co-founder and CFO (left the organization in 2015)
Paper Boat - Products and Production
Paper Boat offered more than 20 different products. Paper Boat produces more than 20 million products every month. Some of the products of the companies are as follows:
- Fruit-Based Drinks - Aam Panna, Jamun Kala Khatta, Nimbu Paani, Alphonso Aam, Aam Ras, Chilla Guava, etc.
- Seasonal Drinks - Panakam, Sherbet-e-Khas
- Indian Snacks - Peanut Chikki, Seasame Chikki, Banana Chips, Namak Para, Aam Papad, Shakar Para, Bakarwadi, Gur Para, etc.
Note: Paper Boat opened their first factory in Manesar but, due to an increase in demand, they had to open another unit in Mysuru.
Paper Boat - Brand Name, Logo, and Catchline
- Brand Name - The brand name of Paper Boat connects us with childhood. Elephant Design suggested the name of the brand.
- Logo - Paper Boat's logo is in beautiful grey color. It has a boat made of paper on the top of it.
- Catchline - Its catchline is 'Drinks and Memories.
Paper Boat - Funding and Investments
Paper Boat rose a funding of $105 million in 15 rounds to date. Narayan Murthy is one of their investors. Some other funding and investments of the company are as follows:
- $2.5 million - Series A Stage, 2011
- $8 million - Series B Stage, Sequoia Capital India, 2013
- $28.7 million - Series C Stage, Hillhouse Capital Group, Sofina, 2015
- $3 Million - Venture Round Stage, 2016
- $1.5 Million - Venture Round, A91 Partners, 2019
- $2.7 Million - Venture Round, A91 Parameters, Advent International, 2019
- $1.3 Million - Debt Financing, Trifecta Capital Advisors, 2020
- $3.8 million - Series C Stage, Sofina, 2020
Fun Fact: -Paper Boat has reported revenue of more than $33 million for the financial year. It has increased 60% as compared to the last financial year.
Paper Boat – Growth
- Their sales increased by 12.5% in the year 2017 and, their sales were almost $10 million.
- Their revenue was more than $17 million. Its growth was more than 70% for 2017-18.
- It managed it cut down the losses to almost 2% ($8 million).
- Their business saw an increase of more than 20% in the fiscal year 2020-21.
- They distribute in more than 55,000 outlets in India.
- Paper Boat exports its product in more than ten countries.
Paper Boat - Marketing Techniques
Paper Boat has captured the market quickly. Having proper marketing techniques has helped the company to grow and increase its customer base. Some of the strategies used by them are as follows:
- The company tries to connect with the feelings of the people.
- They connect childhood with emotions, good memories, innocence, and nostalgia. It helps the company in building an unbreakable bond with the consumers.
- They advertise through various sources such as print media and TV media.
- Their campaign got written by Gulzar (the great poet) and Swanand Kirkire.
- Paper Boat also releases various animated short films which got dedicated to childhood. It helped in creating a beautiful picture in the mind of customers.
Paper Boat - Competitors
Paper Boat has to compete with various companies that are already present in the market. Non-carbonated drinks companies are their Some of the competitors of the company are as follows:
Paper Boat - Collaborations
Paper Boat has entered into various collaborations to ensure its availability to every customer. They want their product to be available in smaller cities and towns as well. Some of the partnerships of the company are as follows:
- Big Basket
- Indo Nissin Foods
Paper Boat - Challenges
Some of the challenges of the company are as follows:
- Pandemic: The prevailing Covid pandemic has caused a lot of hindrance in the production and distribution of the products. The whole country was in lockdown and, the company had to suffer.
- Competitors: Paper Boat has many competitors in the market. The drinks and beverage industry got filled with several companies that give tough competition to Paper Boat. The local juice vendors are also a competition for the company as many customers prefer having these drinks over any packaged product.
- Limited Distribution: This was one of the challenges for the company in the beginning. Paper Boat is trying hard to come out of this situation.
- Design: Having certain restrictions on the design of the product was a challenge for the company. Having the perfect color combination on a tetra pack was difficult and, the company had to come up with perfect colors that match their personality.
Paper Boat Startup - Future Plans
Some of the upcoming plans of the company are as follows:
- The company is planning to open more manufacturing units in the country.
- Paper Boat will come up with at least five new flavors of the drink.
- They will gear up their marketing strategies to attract more customers.
- Paper will also run some new campaigns.
Paper Boat – Number #1 Non-carbonated Drink
Paper Boat has become one of the most renowned non-carbonated drinks brands in India. They offer a wide range of beverages that does nothing but connects you to your childhood taste. The company is doing a great job in helping us relieve our good old memories with the help of perfect taste.