SUMMARY
The round also saw participation from the Blume Founders Fund, The Gauri Khan Family Trust, Priya and John Abraham, Sangita Jindal, Srinivas and Pallavi Dempo, The Mehta International Mauritius Limited Group
The funds will be used for talent acquisition, developing tech-driven customer experiences, product and design research, improving farm-level infrastructure for specialty green coffee and fine cacao beans, and launch of new 'ready to drink' coffee products
The startup is also planning to roll out flagship experience cafés in select cities in India and globally
Update | March 26, 18:00 PM
Subko Coffee Roasters in a statement confirmed raising $10 Mn in its Series B funding round, led by Zerodha cofounder Nikhil Kamath.
The funding round also saw participation from the Blume Founders Fund, The Gauri Khan Family Trust, Priya and John Abraham, Sangita Jindal, Srinivas and Pallavi Dempo, The Mehta International Mauritius Limited Group, the startup said.
Subko Coffee will use the fresh funds for talent acquisition, developing tech-driven customer experiences, product and design research, improving farm-level infrastructure for specialty green coffee and fine cacao beans, and launch of new ‘ready to drink’ coffee products.
It is also planning to roll out flagship experience cafés in select cities in India and globally.
Original | March 23, 14:13 PM
Mumbai-based speciality coffee and cocoa startup Subko Coffee Roasters has secured Series B funding of INR 85.10 Cr (around $10 Mn) at a valuation of INR 286.92 Cr ($34 Mn).
The round was led by Zerodha cofounders backed investment firm NKSquared, along with participation from Subko’s existing investors, including, Pallavi and Srinivas Dempo, Jay Mehta, Gauri Khan Family Trust, and John & Priya Abraham, via rights issue.
Apart from that, Blume Ventures and Progressive LLP also took part in the latest fundraise.
As per Entracker’s report, NKSquared has bought a 25% stake in the coffee chain with an infusion of INR 70 Cr.
Subko Coffee offers caffeinated drinks, baked goods, and coffee roasters. According to filings, celebrities like Gauri Khan and Tiger Shroff invested in the company between June 2022 and December 2023.
The company saw significant growth in the last fiscal year, with revenue increasing by 94% to INR 13.57 Cr in FY23 from INR 7 Cr in the previous fiscal year. However, it reported a loss of INR 9.86 Cr during the same period.
Subko Coffee competes against the likes of Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co among others.
This development comes months after Third Wave Coffee raised $35 Mn in its Series C funding round from private equity firm Creaegis and existing investors, including WestBridge Capital and Udaan cofounder Sujeet Kumar.
Meanwhile, another D2C coffee startup Rage Coffee’s founder and CEO Bharat Sethi recently claimed that it crossed INR 100 Cr in cumulative brand sales since its inception in December 2023.
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