Spirits major Diageo India has invested Rs. 27 crores in HipBar, a digital payment startup that caters to alcohol beverage consumers..The investment made through Indian unit United Spirits will see the British multinational picking up a 26% stake in HipBar, thus valuing the firm at about Rs. 104 crore, reported ET..J&M Legal acted for HipBar and the team was led by Partners Raj Jhabakh and Preeti Mohan..Platinum Partners acted for the investor Diageo/USL with a team led by Partner Yashasvi Mohanram, Oommen Mammen, and Yatharth Gupta..The investment will help HipBar, which offers payment and alcohol delivery services through its app, to expand to more markets..Founded in 2015, it currently operates in Bengaluru and Chennai and digitally connects alcohol brands, retail stores, and consumers through a common platform.
Spirits major Diageo India has invested Rs. 27 crores in HipBar, a digital payment startup that caters to alcohol beverage consumers..The investment made through Indian unit United Spirits will see the British multinational picking up a 26% stake in HipBar, thus valuing the firm at about Rs. 104 crore, reported ET..J&M Legal acted for HipBar and the team was led by Partners Raj Jhabakh and Preeti Mohan..Platinum Partners acted for the investor Diageo/USL with a team led by Partner Yashasvi Mohanram, Oommen Mammen, and Yatharth Gupta..The investment will help HipBar, which offers payment and alcohol delivery services through its app, to expand to more markets..Founded in 2015, it currently operates in Bengaluru and Chennai and digitally connects alcohol brands, retail stores, and consumers through a common platform.
