This start-up which produces black water has secured funding for global expansion

Black alkaline water manufacturer Evocus has received Rs 10 crore in funding from Red Fort Capital Finance, a leading fund focused specifically on logistics, industrial parks, and the manufacturing sector. 

The Gujarat-based D2C company is the country’s first black water brand, present in more than 50 cities and available through a mix of offline and online channels. Evocus plans to use the capital for global expansion with an aim to make its presence in over 10 countries. 

According to the start-up, Evocus is an alkaline drink infused with essential minerals with a pH level of over 8 - pH is basically a measure of how acidic or basic the water is, with the range going from 0 to 14, with seven being neutral. 

Some studies claim that alkaline water helps neutralise acids in the body. 

Incidentally, Red Fort Capital disbursed the funds to Evocus in just seven days by seamlessly completing all the procedures after thorough due diligence. 

“The black water or alkaline water is witnessing a massive surge in demand after top celebrities were spotted using it. It is a rage globally because of its health benefits and Evocus has the first-mover advantage in India,” said Parry Singh, CEO, Red Fort Capital Finance. 

“The company has some aggressive expansion plans to go global and we at Red Fort Capital Finance are always looking forward to backing such high-growth companies,” he added. 

While the start-up has subscription plans for those interested in buying alkaline water regularly, a pack of 6 bottles of 500 ml each costs Rs 600, as per its website. 

“We requested speedy delivery from Red Fort Capital, and they exactly did what was expected from them. One of the most seamless experiences to date,” said Aakash Vaghela, Founder and Managing Director, Evocus. 

Red Fort Capital seeks deals that offer a strong collateral cover and growing business cash flow. The NBFC finances deal from Rs 1 crore to Rs 10 crore and has a healthy well-diversified book with zero NPA. 

 

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