HipBar gets Rs 27 cr fund from Diageo

Diageo has acquired a 26% equity stake in HipBar for Rs 27 crore.

Anand Kripalu, CEO-MD, Diageo India said, “E-commerce is making an impact on just about every industry imaginable, and the beverage alcohol industry is set to be the next sector to be disrupted by the continued shift to digital. This investment allows us to discover ideas that anticipate shifts in consumer behaviour and enables us to remain at the forefront of trends.”

HipBar has developed a stringent age verification process as well as highly compliant standard operating procedures to ensure that the company’s delivery service fosters a safe drinking environment in India.

Prasanna Natarajan, Founder of HipBar said: “As a business, our interests will always be subservient to how HipBar is performing in the social sphere and if it is indeed bringing the intended benefits of technology to help people drink more responsibly.”