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First Coffee raises $1.2 Mn in seed round led by BEENEXT

EntrackrEntrackr · 1y ago
First Coffee raises $1.2 Mn in seed round led by BEENEXT
Medial

Speciality coffee brand First Coffee has raised $1.2 million in its seed round led by BEENEXT. The round also saw participation from other investors such as Ashish Gupta (Helion Venture Partners), AngelList India, Dr. Ritesh Malik (founder, Innov8), Sahil Malik (founder, Da Milano), Chandini Purnesh (Owner, Harley Coffee Estate), Aman Arora (co-Founder, Board – Keventers), Agastya Dalmia (director, Keventers), Aman Bahel (Apex Group), Nakul Dev Chawla (Art Mumbai) and Dr. Shriram Nene. The proceeds will be used to drive the company’s expansion and bring its premium specialty coffee experience to more locations across the country, the company said in a press release. First Coffee aims to expand its store presence in key urban areas across New Delhi and NCR and tier I cities in North India. First Coffee will focus mainly on small format QSR outlets in high-footfall areas such as malls, corporate parks, high streets and metros. The company is set to open 35 stores across the country by the second quarter of next fiscal year. The funds raised will also be used for hiring and amplifying marketing efforts. Founded by Sohrab Sitaram and Shiv Dhawan in 2024, First Coffee combines design, culture and a new customer experience, with premium coffee. It integrates experiential big data with analysis powered by AI, creating a technology-driven retail model. Using shade-grown coffee and eco-friendly methods like man-made lakes for irrigation and traditional insect traps, First Coffee claims that its coffee is sustainably sourced while providing premium quality. As per Customer Market Insights, the Indian coffee market is projected to reach $1227.47 million by 2032, growing annually at a 9.87% CAGR from 2024 to 2033.

Nothing Before Coffee bags $2.3 Mn in pre-Series A round

EntrackrEntrackr · 8m ago
Nothing Before Coffee bags $2.3 Mn in pre-Series A round
Medial

QSR coffee chain Nothing Before Coffee (NBC) has raised $2.3 million in a pre-Series A funding round led by Prath Ventures, along with participation from SYL Investments. The proceeds will be utilized to establish over 150 of its stores across India by FY26, strengthen the brand’s digital platforms, invest in supply chain optimization and talent acquisition, and experiment with new store formats. Co-founded in 2017 by Ankesh Jain, Anand Jain, Akshay Kedia, and Shubham Bhandari, NBC offers a wide range of beverages, including coffee, shakes, and other specialty drinks, with over 100 items on the menu. The brand aims to be a beacon of inclusivity and a locally priced coffee hub, providing affordable, high-quality coffee to customers. “With strong unit economics and consistent consumer love, we are now well-positioned to scale rapidly. The capital will help us deepen our presence, invest in technology and talent, and unlock the next phase of growth as we work towards becoming India’s most loved and accessible coffee chain,” said Ankesh Jain, Co-founder, Nothing Before Coffee. NBC states that it continues to redefine India’s café culture by focusing on Tier-II and Tier-III cities—a segment largely untapped by premium coffee players. Last year, the brand made its foray into the global market with the opening of its inaugural outlet in Portugal.

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 · 11m 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 posts Rs 325 Cr revenue in FY25, cuts losses by 21%

EntrackrEntrackr · 11d ago
Blue Tokai posts Rs 325 Cr revenue in FY25, cuts losses by 21%
Medial

Blue Tokai posts Rs 325 Cr revenue in FY25, cuts losses by 21% Speciality coffee chain Blue Tokai Coffee Roasters has posted 50% year-on-year growth in its scale while simultaneously tightening its losses during FY25. India’s coffee culture continues to deepen and evolve, even as the market becomes increasingly crowded with new-age brands and speciality chains entering the space. Amid this intensifying competition, speciality coffee chain Blue Tokai Coffee Roasters has posted 50% year-on-year growth in its scale while simultaneously tightening its losses during FY25. According to the company’s consolidated financial statements accessed from the Registrar of Companies (RoC), its revenue from operations rose to Rs 325 crore in FY25, up from Rs 216 crore in FY24. The sale of coffee and related products remained the sole source of revenue for Blue Tokai in the last fiscal year. As per the company’s website, it now operates over 100 stores across India. On the cost front, the company spent Rs 113 crore on the procurement of products against sales of Rs 325 crore during the year. Employee benefit expenses also rose 24% year-on-year to Rs 94 crore in FY25. Meanwhile, expenses related to rent, logistics, marketing, and other overheads pushed total expenditure up by 35.3% to Rs 385 crore in FY25, compared with Rs 284.5 crore in the previous fiscal year. Despite this rise, tighter cost controls and operating leverage from higher revenues helped improve the company’s overall financial efficiency. As a result, Blue Tokai reduced its losses by 20.6% to Rs 50 crore in FY25, from Rs 63 crore in FY24. Key profitability metrics also showed improvement, with ROCE improving to -14.4% and EBITDA margin narrowing to -3.69%. On a unit economics level, the company spent Rs 1.18 to earn every rupee of revenue during the year. The improved scale and operational discipline appear to have reinforced investor confidence. During the year, Blue Tokai raised $25 million in a bridge round from its existing investors, taking its total funding raised to over $110 million to date. While some early coffee brands have exited over the years, new startups continue to enter India’s crowded specialty coffee market. Recently, Toffee Coffee, Notting Coffee and Sweet Karam Coffee raised pre Series A funding, while Chelbess Coffee, First Coffee and Subko Coffee also secured fresh capital from investors. The recent funding activity shows that investors continue to believe in India’s growing coffee market, even as brands focus not just on growth, but also on standing out, managing costs, and moving closer to profitability.

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