Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Online Premium Tea Seller, Teabox, has raised an undisclosed amount of funding from Cameron Jones, a Singapore-based angel investor. Concurrently, Teabox has also raised venture debt from DBS Bank Limited (“DBS”), SouthEast Asia’s financial services company.
Siliguri-based Teabox was founded in 2012 by Kaushal Dugar. It is a premium tea brand delivering tea all over the world, focused on the vertical integration of sourcing, branding and distributing teas. The company works with around 150 plantations in Darjeeling, Assam, Nilgiri & Nepal.
Kaushal Dugar, Founder & CEO, Teabox said, “This capital will give us additional resources to expand quickly and strategically into new markets, innovate rapidly, and deliver on our vision around the world.”
Within four years of its existence, Teabox has delivered over 35 Mn cups’ worth of tea to customers in 94 countries.
Teabox will use the capital infusion to expand its presence and fuel growth and innovation in global markets.
With this, Teabox has also announced strategic hires at Teabox. Nicole Naumoff, with over 20 years of marketing and business leadership experience with global brands has joined Teabox. Nicole will lead Teabox’s marketing efforts including the launch of new products and partnerships, with a focus to build the brand in North America.
Amit Sharma will lead technology at Teabox. His strong understanding of usability, scalability, performance and optimisation will ensure the Teabox ecommerce platform is ready for growth.
Prior to this in January 2016, Ratan Tata invested an undisclosed amount of funding in Teabox, an online startup that sells premium teas.
Prior to this, the company had raised $6 Mn in Series A funding from JAFCO Asia, Keystone Group and Dragoneer Investment. The round also saw participation from Accel Partners and Texas billionaire Robert M. Bass.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.