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Toffee Coffee Roasters raises pre-Series A round led by IPV

EntrackrEntrackr · 2h ago
Toffee Coffee Roasters raises pre-Series A round led by IPV
Medial

Toffee Coffee Roasters raises pre-Series A round led by IPV Coffee brand Toffee Coffee Roasters has raised Rs 5 crore in pre-Series A funding round led by IPV along with participation from 66 bridge partners, Abhijit Vemuganti and Invesst. The startup was also featured on Shark Tank India and backed by Ritesh Agarwal. The proceeds will be utilized for expansion of operations, enhancing and expanding the backend roastery, improving packaging quality, and new product development as the brand continues to expand its portfolio. Co-founded in 2019 by Rishabh Nigam and Nandini Shrivastava, Toffee Coffee Roasters started as a specialty coffee cafe in Mumbai. During the 2020 lockdown, the brand pivoted to delivering freshly roasted coffees across India. It has since scaled to over 2 lakh customers through various channels and operates out of a 10k sqft roastery. The global coffee market is valued at $150–200 billion, while India’s coffee market stands at around $2 billion, showing a promising CAGR of over 20 percent. The company focuses on high-quality sourcing, roasting, and blending, ensuring better quality at competitive prices. Toffee Coffee Roasters currently produces over 5 tonnes of coffee monthly, aiming to scale production to 50 tonnes, which could support Rs 8-10 crore in annual revenue and reach 8-10 lakh customers. The company holds around 1-2% market share in the overall coffee category.

Blue Tokai raises $25 Mn in a bridge funding round from existing investors

EntrackrEntrackr · 3m ago
Blue Tokai raises $25 Mn in a bridge funding round from existing investors
Medial

Blue Tokai raises $25 Mn in a bridge funding round from existing investors Speciality coffee chain Blue Tokai Coffee Roasters has raised $25 million (around Rs 220 crore) in a bridge funding round from existing investors A91 Partners, Anicut, Verlinvest, and 12 Flags. The proceeds will be used to scale retail operations, strengthen back-end infrastructure, and expand into international markets such as Dubai and Japan. In India, the funds will also support new store launches and the expansion of its roasteries and bakery facilities in Bengaluru and Gurugram. Blue Tokai currently operates cafes across multiple Indian cities and has positioned itself as a premium coffee brand. The founders said they are revising their growth targets upwards. Earlier, the plan was to achieve Rs 1,000 crore in revenue and Rs 100 crore EBITDA by 2027. Now, the company aims for over 800 stores and Rs 2,000 crore revenue within the next four years. Blue Tokai has raised over $105 million to date, including its $30 million Series C round led by Verlinvest in August last year. According to the startup data intelligence platform TheKredible, A91 Partners was the largest external stakeholder with 22.77% followed by Verlinvest. As per TheKredible, Blue Tokai Coffee Roasters achieved over five-fold growth in the past four fiscal years. The brand's revenue grew from Rs 41 crore in FY21 to Rs 75 crore in FY22, Rs 127 crore in FY23, and Rs 216 crore in FY24. It competes with Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others.

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

EntrackrEntrackr · 10m ago
Chelvies Coffee raises $1 Mn in pre-Series A round
Medial

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.

Blue Tokai raises $35 Mn in Series C led by Verlinvest

EntrackrEntrackr · 1y ago
Blue Tokai raises $35 Mn in Series C led by Verlinvest
Medial

Global investment platform Verlinvest has led a $35 million round in specialty coffee and bakery brand Blue Tokai. Existing investors Anicut Capital and A91 Partners also joined the Series C funding. This strategic partnership will enable Blue Tokai to deepen its presence in existing metro markets and expand into new tier I and tier II cities in India over the next three years, the company said in a press release. In January 2023, Blue Tokai raised $30 million in its Series B funding round led by A91 Partners. Led by co-founders Matt Chitharanjan, Namrata Asthana, and Shivam Shahi, Blue Tokai has partnered with several retail outlets, luxury hotels, restaurants, top corporates, and co-working spaces, among others. In the past 12 months, the company claims to have more than doubled its store count to 130 outlets. The funds will also be used to expand to over 350 locations in the next 30-36 months. Blue Tokai’s revenue from operations surged 72% to Rs 127.45 crore in FY23 from Rs 74 crore in FY22. According to startup data intelligence platform TheKredible, its losses also increased nearly 3.5-fold to Rs 43 crore in FY23, compared to Rs 12.3 crore in FY22. The company is yet to file its annual report for FY24. It competes with Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others. Among venture-funded startups, Third Wave Coffee was the largest brand in terms of revenue in FY23. However, the firm also experienced layoffs of more than 100 employees shortly after a $35 million fundraise in September last year. In March this year, Third Wave Coffee’s CEO Sushant Goel was replaced by Rajat Luthra from KFC. Earlier this week, GRM Overseas acquired a 44% equity stake in Rage Coffee through a combination of primary infusion and secondary buyouts.

Exclusive: Subko Coffee raises Rs 80 Cr led by NKSquared

EntrackrEntrackr · 1y ago
Exclusive: Subko Coffee raises Rs 80 Cr led by NKSquared
Medial

Subko Coffee has raised Rs 80 crore in a new round led by Zerodha co-founders-backed NKSquared, said two sources aware of the investment. Several individuals along with Blume Ventures and Progressive LLP also participated in the financing round. “NKSquared has put in around Rs 70 crore whereas the remaining Rs 10 crore came from other investors,” said one of the sources requesting anonymity as talks are yet to be public. The company has received $5.5 million (Rs 45 crore) and NKSquared has already invested Rs 34.2 crore, according to the Subko Coffee regulatory filings with the Registrar of Companies (RoC). Blume Ventures and Progressive Strategies LLP collectively invested Rs 4.75 lakh. Pallavi Dempo, Suprapadh S Manohar, John Abraham, Kalpathi Ratna, and Suparna Gupta also took part in the financing round. As per sources, NKSquared has also acquired a 25% stake in the Mumbai-based firm. Subko Coffee has been valued at around $35-40 million (post-money), said the person quoted above. Queries sent to Subko Coffee NKSquared and Subko Coffee didn’t elicit any immediate response. We will update the story in case they respond. NKSquared was incorporated by Kamath brothers in 2019 but it became active last year and backed a few companies, including Nazara Games. Subko Coffee provides caffeinated drinks along with baked bread-pastries and coffee roasters. According to its filings, several celebrities such as Gauri Khan, Tiger Shroff, and others invested in the company between June 2022 to December 2023. Subko Coffee has been growing at a rapid clip and this could be evident from its growth in the last fiscal year. Its revenue spiked 94% to Rs 13.57 crore in FY23 from Rs 7 crore in FY22 while the firm’s losses stood at Rs 9.86 crore in the same period. Subko Coffee competes with Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co. Notably, Third Wave Coffee is also backed by Zerodha’s co-founder Nikhil Kamath.

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