Indian beverage maker Hector Beverages Pvt Ltd has raised US$29 million in its series C financing round led by China-focused investment firm Hillhouse Capital and Belgian investment holding company Sofina, according to media reports.
Existing investors Sequoia Capital also participated in the deal, which values the company at approximately US$100 million.
Hector Beverages, which makes and retails traditional India soft beverages, plans to use the proceeds to expand its businesses in India and to introduce new products.
This is Hillhouse’s second investment in India. In January, it led a US$50 million series B financing round in Indian automobile classified ads web platform CarDekho.com.