Third Wave Coffee, a specialty coffee and food brand based in Bengaluru, has successfully raised $35 million in a Series C funding round led by homegrown private equity firm Creaegis. The funding round, which saw participation from existing investors WestBridge Capital and Udaan’s co-founder Sujeet Kumar, has propelled Third Wave Coffee’s valuation to $150 million.
With a strategic focus on enhancing its global footprint, Third Wave Coffee will utilize the newly acquired capital to bolster its supply chain, invest in cutting-edge technology, and continue its nationwide expansion.
The coffee brand, founded in 2017 by Ayush Bathwal, Anirudh Sharma, and Sushant Goel, has rapidly become a major player in India’s booming coffee industry. Their unique blend of curated food offerings and handpicked coffee has earned them a loyal customer base across major Indian cities, including Bengaluru, Mumbai, Delhi, Gurugram, Pune, Hyderabad, Noida, Coonoor, and Chandigarh.
Industry Growth and Competition
The specialty coffee sector in India is experiencing a surge in homegrown brands, challenging global giants like Starbucks. Third Wave Coffee Roasters competes with established coffee brand such as Blue Tokai, Slay Coffee, Sleepy Owl Coffee, and traditional chains like Cafe Coffee Day.
The influx of investment, exemplified by Third Wave’s recent funding round, showcases the industry’s potential and the confidence investors have in these innovative startups.
Third Wave Coffee’s CEO, Sushant Goel, expressed the company’s dedication to technological advancement and product innovation. He emphasized their commitment to delivering a superior cafe experience across the country. The infusion of funds will further amplify their efforts, enabling them to stay at the forefront of the coffee-first Quick Service Restaurant (QSR) industry.
Creaegis, in particular, has been proactive in the Indian startup scene. This investment in Third Wave Coffee follows its recent backing of Doceree, a physician-only platform for programmatic messaging. The company’s diverse portfolio includes firms like Medikabazaar, Zopper, and Kale Logistics, indicating a strategic approach to various sectors within the startup ecosystem.
Third Wave Coffee’s latest funding round signifies its own growth and mirrors the upward trajectory of India’s specialty coffee industry. With a robust investment strategy focused on technology and an expanding network of cafes, Third Wave Coffee will leave a lasting impact on the global coffee scene.
- Doceree Secures $35 Million in Series B Funding for Global Expansion
- Indian Private Equity Firm Creaegis Closes Maiden Fund at $425 Million to Back Startups
- Kale Logistics Secures $30 Million in Series B Funding Led by Creaegis
- Chandrayaan 3 Inspires Surge in Indian Space Sector as SatSure Secures $15 Million Investment
- Wiom Raises $17 Million in Series A Round to Democratize Affordable Internet Access in India