The capital will be used to expand distribution, strengthen supply chain capabilities, invest in brand building and introduce new product flavours
IAN Angel Fund, the evergreen fund of IAN Group, has led a Rs 2.5 crore funding round in Peping, a fast-moving consumer goods startup building functional beverages for modern Indian consumers. The round also saw participation from other angel investors. The capital will be used to expand distribution, strengthen supply chain capabilities, invest in brand building and introduce new product flavours.
The investors’ conviction in Peping is primarily driven by its focus on functional nutrition and demonstrated signs of repeat consumption. The company is positioned at an inflection point in India’s beverage market, particularly within the premium and health-focused segment, valued at around Rs 10,000 crore and growing steadily.
“We are thrilled to welcome IAN Group on board alongside key co-investors Signal Ventures, Eleven Eleven, and other angels. Beyond sharing our excitement for Peping’s vision, they bring invaluable strategic expertise to accelerate our distribution expansion and strengthen brand presence,” stated Chirag Maheshwari, Co-founder, Peping.
Founded by Chirag Maheshwari and Prateek Maheshwari, Peping offers low-calorie prebiotic fizzy drinks and probiotic digestive shots designed for daily consumption. The brand is available on Swiggy Instamart, Zepto, BigBasket, First Club, Namdhari’s, Ratnadeep and over 200 retail outlets across Bengaluru. The company has built its production facility using off-the-shelf components and brought soda canning in-house to improve margins and quality control.
Unlike niche kombucha brands, child-focused probiotic drinks, or clinical capsules, the company aims to create a great-tasting, affordable, and shelf-stable functional soda suited to Indian preferences. The official statement noted that functional beverages are among the fastest-growing sub-categories and are expected to cross Rs 13,500 crore by 2033, driven by urban Gen Z and millennial consumers seeking healthier alternatives to sugary carbonated drinks.
