Chennai-based digital payments startup dedicated to serving the needs of the alcohol beverage industry HipBar has secured an investment of $3.96 million from beverage alcohol company Diageo India. With this deal, Diageo has acquired 26 per cent stake in the company.
Diageo India through its legal entity United Spirits Limited will support HipBar’s digital ambition and help expand its footprint across more markets.
Founded in 2015, HipBar enables age verified consumers to browse and order a range of alcoholic beverages and get them delivered at their doorstep or pick it up from a retail store at their convenience.
The startup works closely with the beverage alcohol industry and the government to custom build software and deploy technology projects that will help the category to move forward in a compliant and sustainable manner.