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Speciality coffee company Abcoffee raises $2 million in funding from Tanglin Venture Partners, others

Economic Times

Economic Times · 1y ago

Speciality coffee company Abcoffee raises $2 million in funding from Tanglin Venture Partners, others

Mumbai-based speciality coffee chain Abcoffee has secured $2 million in a seed funding round led by Tanglin Venture Partners. The funds will be used to enhance its tech stack, expand its product range, and increase accessibility to its affordable speciality coffee through retail outlets. The company currently has 10 outlets in Mumbai and Delhi and plans to establish 100 outlets within the next 12 months. This funding comes at a time when the speciality coffee space in India is witnessing increased investor interest.

Related News

abCoffee raises $3.4 Mn in Series A round

Entrackr

Entrackr · 1y ago

abCoffee raises $3.4 Mn in Series A round

Specialty coffee QSR chain abCoffee has raised $3.4 million in its Series A round led by Nexus Venture Partners, with participation from existing investor Tanglin Venture Partners. Earlier to this round, the startup had raised $2 million in its seed round led by Tanglin Venture in September last year. The proceeds will be used to enable abCoffee to ramp up its supply chain and technology stack to bring on-demand coffee beverages at lower prices in quicker time, abCoffee said in a press release. Founded in 2022 by Abhijeet Anand, abCoffee offers a wide variety of freshly brewed coffees at affordable prices and provides all the traditional blends including Americano, Latte, Flat White, Iced Latte, and Irish Cold Coffee. The company boasts a customer loyalty rate of 61%, nearly double the industry average, reflecting its commitment to exceptional service with a turn around time (TAT) of 1.5 minutes. Recently, the brand opened 25 outlets across Mumbai and Delhi within a span of 20 months. The brand is targeting 150 stores by end of 2024. Its competitors include Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

Specialty coffee brand abCoffee raises $3.4M led by Nexus Venture Partners

IndianStartupNews

IndianStartupNews · 1y ago

Specialty coffee brand abCoffee has secured $3.4 million in a Series A funding round led by Nexus Venture Partners, with participation from Tanglin Venture Partners. The Indian startup aims to use the funds to improve its supply chain and technology to offer on-demand coffee more efficiently and affordably. With a customer loyalty rate of 61%, abCoffee has rapidly expanded with the opening of 25 outlets across Mumbai and Delhi, planning to expand to 150 stores by the end of 2024. The funding and strategic initiatives position the brand well to tap into the growing $0.5 billion Indian coffee market.

Specialty coffee chain abCoffee raises $3.4 million funding led by Nexus Venture Partners

Economic Times

Economic Times · 1y ago

Specialty coffee chain abCoffee raises $3.4 million funding led by Nexus Venture Partners

Indian specialty coffee chain AbCoffee has raised $3.4m in a series A funding round led by Nexus Venture Partners, with participation from Tanglin Venture Partners. The Mumbai-based company plans to use the funds to enhance its supply chain and technology infrastructure, aiming to provide accessible and affordable specialty coffee through its retail grab-and-go outlets. AbCoffee, which currently operates 49 outlets mainly in Mumbai and New Delhi, plans to triple its valuation to around $15m. The funding aligns with the trend of technology-focused venture capital firms showing interest in consumer brands with a physical presence.

abCoffee Nets $3.4 Mn To Boost Supply Chain, Tech Stack

Inc42 · 1y ago

abCoffee Nets $3.4 Mn To Boost Supply Chain, Tech Stack

Coffee brand abCoffee has raised $3.4 million in a Series A funding round led by Nexus Venture Partners. The funds will be used to enhance the company's supply chain and technology innovation, allowing it to offer on-demand coffee at lower prices and with reduced wait times. Founded in 2022, abCoffee has already garnered a loyal customer base and sells its products through outlets, as well as on platforms such as Swiggy and Zomato. The latest funding follows a $2 million seed round secured by the company in September 2022.

Nexus Venture, Gruhas invest early-stage funds in two startups

VCCircle

VCCircle · 1y ago

Nexus Venture, Gruhas invest early-stage funds in two startups

Specialty coffee chain abCoffee and innerwear brand Bummer have secured early-stage funding from Nexus Venture Partners and Gruhas Collective Consumer Fund, respectively. abCoffee raised $3.4 million in a Series A funding round, which will be used to enhance its supply chain and technology. Bummer raised $1.1 million in a pre-Series A funding round, which will aid its expansion into tier II and III cities and hiring talent. AbCoffee offers affordable brewed coffees sourced from Chikkamagaluru farms, while Bummer specializes in eco-conscious innerwear made from micromodal fiber.

Nexus Venture-backed AbCoffee ropes in former OYO exec to scale up operations

VCCircle

VCCircle · 8m ago

Nexus Venture-backed AbCoffee ropes in former OYO exec to scale up operations

Former OYO executive, Rohit Tiwari, has joined grab-and-go coffee chain AbCoffee as the new president of operations. With over 15 years of experience in driving offline and online sales growth, Tiwari will focus on the growth and expansion strategy of AbCoffee. Tiwari's experience includes scaling up operational teams at OYO and driving customer acquisition and network expansion at Airtel Payments Bank. AbCoffee has over 70 outlets across several cities in India and recently raised $3.4 million in a Series A funding round led by Nexus Venture Partners.

Tech-first VCs line up for new-age consumer firms

Economic Times

Economic Times · 1y ago

Tech-first VCs line up for new-age consumer firms

Nexus Venture Partners, known for its expertise in SaaS, is set to lead a $5 million funding round in specialty coffee brand AbCoffee. This investment will triple the coffee brand's valuation to around $15 million in less than six months. Nexus also plans to invest in lab-grown diamond maker Aukera. Accel, an early investor in Flipkart, is also closing a $12 million round in fast fashion brand Newme. These investments reflect the growing interest of venture capital firms in new-age consumer brands with offline presence.

Indian startup Good Flippin' Burgers raises ₹32.77 crore

Inshorts · 2y ago

Indian startup Good Flippin' Burgers raises ₹32.77 crore

Good Flippin' Burgers, an Indian startup, has secured $4 million (approximately ₹32.77 crore) in its recent Series A funding round led by Tanglin Venture Partners. According to Co-founder Viren D'Silva, this funding will enable the company to scale its operations and strengthen its supply chain. With 23 outlets already established in Mumbai and Delhi, the company is poised for further expansion with this investment.

Tanglin leads $7.5 Mn round in Footprints Preschool & Daycare

Entrackr

Entrackr · 3m ago

Tanglin leads $7.5 Mn round in Footprints Preschool & Daycare

Tanglin leads $7.5 Mn round in Footprints Preschool & Daycare Early childhood education and daycare startup Footprints Preschool & Daycare has raised $7.5 million in Series A funding, led by Tanglin Venture Partners. The proceeds will be used to accelerate the launch of new centres, deepen investment in smart surveillance and AI-driven learning systems, and enhance digital engagement with parents, Footprints said in a press release. Footprints Preschool & Daycare is an early childhood education and daycare chain in India. It focuses on holistic child development using the US-based HighScope Curriculum and places a strong emphasis on child safety and parental involvement. Footprints claims to operate numerous centres across 24 cities, serving over 48,000 parents, and provides features such as live CCTV access and a mobile app for parents to stay connected with their children. Footprints aims to reshape early childhood learning by integrating personalized care with technology-driven solutions and efficient operations. It prioritizes child safety through features such as live CCTV access, child-safe infrastructure, and thorough background checks for all staff. “Our focus has always been on creating safe, nurturing, and stimulating environments where every child’s potential is recognized and developed. With the support of Tanglin Venture Partners, we are now positioned to deepen our impact and bring our model to even more families across the country. Our commitment to trust, transparency, and technology-driven care remains the foundation of our growth,” said Raj Singhal, co-founder and CEO of Footprints. Tanglin Venture Partners, a venture capital firm founded by Ravi Venkatesh, a former Tiger Global executive, is gearing up to raise $250 million for its third fund. Its portfolio includes Pocket FM, Moglix, Sugar.fit, Good Flippin' Burgers, abCoffee, Scapia, Plum, Open, Ninjacart, Jupiter, and Rupeek, among others.

Sugar.fit secures additional $5M in Series A

Inshorts · 1y ago

Sugar.fit secures additional $5M in Series A

Healthtech startup Sugar.fit has secured an additional $5 million in Series A funding led by B Capital, bringing the total funding raised in the round to $16 million. Existing investors MassMutual Ventures, Tanglin Venture Partners, Endiya Partners, and Cure.Fit also participated in the round.

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