Total amount raised
$62 Millions
Latest funding date
9/1/2023
Location
Third Wave Coffee has successfully raised significant funding through multiple rounds, with the latest being a Series C round. The company specializes in manufacturing and distributing specialty coffee bags that make barista-quality coffee accessible anytime.
Keep reading to explore the intricacies of Third Wave Coffee's fundraising journey and the investors backing this innovative coffee brand.
What Is Third Wave Coffee?
Third Wave Coffee, founded in 2016, is based in Bengaluru, Karnataka, India. The company was established by Anirudh Sharma, Ayush Bathwal, and Sushant Goel.
Specializing in manufacturing and distributing specialty coffee bags, Third Wave Coffee aims to make barista-quality coffee accessible anytime. Their product range includes coffee beans, easy coffee bags, cold brew bags, and brewing guides.
With a workforce of 251-500 employees, Third Wave Coffee continues to grow, driven by its commitment to ethical sourcing, fresh roasting, and easy preparation.
How Much Funding Has Third Wave Coffee Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: Oct 22, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart operations and product development.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: Apr 1, 2021
- Lead Investors: Neelesh Bhatnagar, Nikhil Kamath
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand initial market presence and scale operations.
- Series A
- Amount Raised: $6M
- Date: Dec 15, 2021
- Lead Investors: Arpan Sheth, Ayyappan Rajagopal, Sujeet Kumar
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial scaling and operational setup.
- Series B
- Amount Raised: $21M
- Date: May 1, 2022
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand and scale operations.
- Series C
- Amount Raised: $35M
- Date: Sep 28, 2023
- Lead Investors: Creaegis
- Valuation at Round: $150M
- Motivation Behind the Round: For technology investments, supply chain improvements, and national expansion.
Total Amount Raised: $62M. Current Valuation: $150M.
Key Investors
- Creaegis
- Details: Creaegis is a private equity firm that led the Series C funding round for Third Wave Coffee. The firm focuses on supporting companies in their growth phases with a digital-first approach.
- Investment Focus Areas: Technology, supply chain improvements, national expansion.
- Notable Investments: Doceree, Kale Logistics, Zopper, Medikabazaar.
- WestBridge Capital
- Details: WestBridge Capital is a venture capital firm that has been a recurring investor in Third Wave Coffee, participating in both the Series B and Series C funding rounds. The firm focuses on high-growth companies across various sectors.
- Investment Focus Areas: High-growth companies, customer experience, scaling businesses.
- Notable Investments: Third Wave Coffee, previously led the $21 million Series B investment.
- Sujeet Kumar
- Details: Sujeet Kumar is the co-founder of Udaan and participated in the Series C funding round for Third Wave Coffee. He is known for his involvement in startups and high-growth companies.
- Investment Focus Areas: Startups, high-growth companies, B2B e-commerce.
- Notable Investments: Udaan.
- Nikhil Kamath
- Details: Nikhil Kamath is the co-founder of Zerodha and an existing investor in Third Wave Coffee. He is known for his investments in various startups and high-growth companies.
- Investment Focus Areas: Technology, consumer sectors, startups.
- Notable Investments: Zerodha.
- Neelesh Bhatnagar
- Details: Neelesh Bhatnagar is an investor who participated in the seed round for Third Wave Coffee. He is known for his investments in early-stage startups.
- Investment Focus Areas: Early-stage startups, various sectors.
- Notable Investments: Not publicly disclosed.
What's Next for Third Wave Coffee?
Third Wave Coffee is poised for significant growth, leveraging opportunities in technology investments, supply chain improvements, and national expansion. With a valuation of $150 million and plans to add 50-60 new stores, the company is well-positioned to capitalize on the rapidly growing coffee-first QSR industry in India.
Future fundraising opportunities seem promising as the company continues to scale. The competitive landscape, featuring brands like Starbucks and Blue Tokai, underscores the need for continuous innovation and strategic investments. However, challenges such as maintaining quality and managing operational costs will be critical as Third Wave Coffee navigates its expansion journey.
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