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Pravin Jadhav-led Raise Financials acquires Filter Coffee

EntrackrEntrackr · 1y ago
Pravin Jadhav-led Raise Financials acquires Filter Coffee
Medial

Pravin Jadhav-led Raise Financials acquires Filter Coffee Raise Financial Services has acquired Filter Coffee, a new-age financial media startup. The latter will join the Raise Financial ecosystem, which also includes the upskilling platform Valuationary and the stockbroking app Moneylicious. “We are excited to welcome Filter Coffee and Tanvi to the Raise ecosystem. Filter Coffee is a trusted brand with a unique voice that resonates with India’s emerging investor class. We look forward to supporting their growth journey,” said Pravin Jadhav, founder and CEO of Raise Financial Services. Founded by Tanvi Raut Dessai, Filter Coffee, which boasts a subscriber base of over 20,000, provides business and financial insights. With Raise, Filter Coffee will expand its content across short-form videos and long-form storytelling, delivering fresh perspectives on India’s financial markets. The details of the transaction couldn’t be ascertained. Entrackr has reached out to Raise for more details. Raise Financial’s stockbroking app Dhan recently entered the top 10 list of stockbroking apps in India, surpassing Paytm Money. It’s worth highlighting that Jadhav was the Managing Director and CEO of Paytm Money before resigning in March 2020. As per media reports, Dhan is in talks to raise a large funding round. The company last raised $22 million in January 2022. BEENEXT, Mirae Asset, 3one4 Capital, and Rocketship.vc are its major investors.

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Sweet Karam Coffee raises $8 Mn led by Peak XV

EntrackrEntrackr · 10m ago
Sweet Karam Coffee raises $8 Mn led by Peak XV
Medial

Sweet Karam Coffee Raises $8 Mn Led by Peak XV Chennai-based South Indian food brand Sweet Karam Coffee (SKC) has raised $8 million in its Series A round led by Peak XV Partners, with existing investor Fireside Ventures also increasing its stake. The funding comes almost two years after Sweet Karam Coffee raised $1.5 million from Fireside Ventures. The proceeds will be used to expand its distribution, launch new products, and improve its supply chain with tech. Founded in 2015, SKC is known for its authentic sweets, snacks, and filter coffee, which is made without palm oil, preservatives, or maida. It also sells condiments and ghee. The startup sells its products via its website, e-commerce marketplaces, and quick commerce platforms, serving customers across 32 countries. SKC claims to have grown 4X in revenue over the past 12 months and is projected to grow another 2.5X in the next 12 months. SKC announced the appointment of Nandhitha Indermohan (ex-Unilever) as Chief Operating Officer to boost execution.

Third Wave Coffee’s scale grows 4.5X to Rs 144 Cr in FY23

EntrackrEntrackr · 1y ago
Third Wave Coffee’s scale grows 4.5X to Rs 144 Cr in FY23
Medial

Coffee chain firm Third Wave Coffee secured $35 million led by homegrown private equity firm Creaegis in September last year. The funding was followed by its notable growth in scale during FY23. Third Wave’s revenue from operations surged 4.5X to Rs 144 crore in the fiscal year ending March 2023 as compared to Rs 32 crore in FY22, its annual financial statements filed with the Registrar of Companies show. Just like StarBucks, Third Wave Coffee offers curated food menus and handpicked coffee, and has over 90 cafes across Hyderabad, Coonoor, Bengaluru, Delhi (NCR), Mumbai, Chandigarh, and Pune. The firm claims to have about 109 stores, of which 50% are operational in Bengaluru. Income from the sale of coffee and food items were the two revenue sources for TWC. The firm also made Rs 2 crore from the interest on bank deposits which took its total income to Rs 147 crore in FY23. For Third Wave Coffee, its employee benefits emerged as the largest cost center accounting for 28.8% of the firm’s overall expenditure. This cost surged 3.8X to Rs 58 crore in FY23 from Rs 15 crore in FY22. Third Wave Coffee’s costs of procurements (coffee and food materials), rent, legal, freight-logistics, marketing, and other overheads took its total expenditure to Rs 201 crore in FY23 from Rs 47 crore in FY22. See TheKredible for the detailed expense breakup. Expenses Breakdown Total ₹ 47 Cr https://thekredible.com/company/third-wave-coffee/financials View Full Data To access complete data, visithttps://thekredible.com/company/third-wave-coffee/financials Total ₹ 201 Cr https://thekredible.com/company/third-wave-coffee/financials View Full Data To access complete data, visithttps://thekredible.com/company/third-wave-coffee/financials Cost of materials consumed Cost of materials consumed Employee benefit Employee benefit Rent Rent Legal professional Legal professional Travelling conveyance Travelling conveyance Transportation distribution Transportation distribution Discounting charges Discounting charges Selling and marketing Selling and marketing Others To check complete Expense Breakdown visit thekredible.com View full data The increase in employee benefits and rent led its losses to increase 3.6X to Rs 54 crore in FY23 from Rs 15 crore in FY22. Its ROCE and EBITDA margin improved to -38% and -25.9% respectively. On a unit level, TWC spent Rs 1.40 to earn a rupee in FY23. Third Wave has raised over $66 million to date including its $35 million Series C round in September last year. According to the startup data intelligence platform TheKredible, WestBridge Capital is the largest external stakeholder with 32.62% followed by Creaegis. As per Fintrackr’s estimates, its enterprise value to revenue multiple is 8.86X as of FY23. FY22-FY23 FY22 FY23 EBITDA Margin -38% -25.9% Expense/₹ of Op Revenue ₹1.47 ₹1.40 ROCE -47% -38% Towards the end of current fiscal year (FY24), Third Wave Coffee went through a tough phase as it laid off more than 100 employees soon after the $35 million fundraise. The company’s chief executive Sushant Goel also moved to a board role and Rajat Luthra, former head of KFC India and Nepal, was appointed as the new CEO. Goel had 7.89% stake in Third Wave Coffee. It competes with Blue Tokai, Sabko Coffee, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co., among others. Its closest competitor Blue Tokai registered Rs 129 crore in revenue with Rs 42 crore loss in FY23. While the mushrooming of coffee chains is not a surprise considering the rapid urbanization and aspirational whiffs around these, the sector has an unusual amount of volatility for the hospitality segment. Coffee chains by default seek the premium end of the market, leaving an opportunity for smaller setups to grab share in the lower price points, and perhaps even eventually add lower priced coffee to their offerings. Doing it all with an aura of cool can be a deadly combination for the newer coffee chains, and something they should watch out for.

Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium

EntrackrEntrackr · 2d ago
Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium
Medial

Exclusive: Sweet Karam Coffee to top up Series A at 85% valuation premium South Indian food brand Sweet Karam Coffee (SKC) is set to raise Rs 30 crore ($3.31 million) in its Series A extension round from existing investors Peak XV Partners and Fireside Ventures. The board at Sweet Karam Coffee has passed a resolution to approve the issue of 19,221 Series A1 compulsorily convertible preference shares (CCPS) at an issue price of Rs 15,609 per share to raise the above-mentioned sum, according to a filing with the Registrar of Companies (RoC). Peak XV Partners will lead the round with an investment of Rs 20 crore, while Fireside Venture Investment will participate with Rs 10 crore, taking the total fundraise to Rs 30 crore in this tranche. As per Entrackr’s estimates, the company’s valuation is expected to rise by 85% to Rs 580 crore (about $64 million) post-money, from Rs 313 crore (around $36.7 million) in its previous $8 million round. Since both participants are existing investors, the round could see additional capital coming in soon. According to the filings, the proceeds from the round will be utilised towards the expansion of the company’s business operations. Founded in 2015, SKC offers authentic South Indian sweets, snacks, and filter coffee made without palm oil, preservatives, or maida, along with condiments, pickles, masalas, and ghee. The company sells via its website, e-commerce, and quick commerce platforms, and claims to serve customers across 32 countries. In April 2025, the company raised $8 million in a Series round led by Peak XV Partners, with participation from existing investor Fireside Ventures. Following the allotment of the latest tranche, Peak XV Partners and Fireside Venture will hold 24.89% and 29.10% stake in Sweet Karam Coffee, respectively. The company’s revenue from operations grew over 4X to Rs 46 crore in FY25 from Rs 11.26 crore in FY24, while losses also increased around 3.3X to Rs 24.78 crore from Rs 7.58 crore.

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