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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.

Related News

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 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.

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.

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.

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-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.

abCoffee opens 25 outlets across Mumbai, Delhi

Thehindubusinessline

Thehindubusinessline · 1y ago

abCoffee opens 25 outlets across Mumbai, Delhi

abCoffee, a specialty coffee quick-service restaurant chain, has successfully opened 25 outlets in Mumbai and Delhi within 20 months. Their goal is to establish 150 stores by the end of 2024. The brand aims to make premium specialty coffee accessible to a wider audience through their unique quick-service model. The company also emphasizes community connections and personalized service, boasting a customer loyalty rate of 61%, nearly double the industry average. With 25 more outlets in the pipeline, abCoffee plans to reach the milestone of 50 outlets by April 2024.

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.

Snabbit, BPR Hub, Chelvies Coffee, Postudio grab early-stage funding

VCCircle

VCCircle · 6m ago

Snabbit, BPR Hub, Chelvies Coffee, Postudio grab early-stage funding

Snabbit, a quick-services app, BPR Hub, a compliance management platform, Chelvies Coffee, and Postudio have each secured early-stage funding. Snabbit raised $5.5 million in a Series A round led by Elevation Capital and Nexus Venture Partners. BPR Hub secured $2.6 million in seed funding from Accel and Kae Capital. Chelvies Coffee raised $1 million led by Endurance Capital. Postudio received $1 million in pre-seed funding from Audacity Venture Capital for expansion and development.

Chelvies Coffee raises $1 Mn in pre-Series A round

Entrackr

Entrackr · 6m ago

Chelvies Coffee raises $1 Mn in pre-Series A round

Chelvies Coffee raises $1 Mn in pre-Series A round Coffee and dining experience brand Chelvies Coffee has secured $1 million in a pre-Series A funding round led by Endurance Capital, with an additional $500,000 in debt financing currently in process. The proceeds will be used to establish more than 30 high-street locations across major Indian metros by 2026, enhance existing supply chain infrastructure, develop proprietary food production systems, and strengthen operational teams, Chelvies Coffee said in a press release. Launched in 2023 by Dhruv Singh, Chelvies Coffee is a specialty coffee restaurant brand that combines premium coffee offerings with fresh, high-quality dining options. With six locations across Delhi NCR and Ahmedabad, the company aims to empower the Indian coffee shop experience through its commitment to quality, innovation, and exceptional customer service. The Delhi-based brand offers an extensive menu of over 70 specialty coffee brews, complemented by a curated dining menu that includes burgers, artisanal sandwiches, and pasta—all produced through in-house facilities. The company’s proprietary supply chain system, supported by centralized dispatch units and base kitchens, enables it to deliver a refined experience efficiently and at scale. According to market research, India's cafe industry is projected to grow at a CAGR of 15-20%, reaching $2.6-3.2 billion by 2028. Chelvies claims it has achieved a monthly run rate of INR 1.30 crore, with demonstrated profitability at each store level. The company aims to transform India’s coffee culture with a European-inspired concept that blends premium specialty coffee with an elevated dining experience.

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