Monday, September 25, 2023, Mumbai:
abCoffee, India’s first tech-enabled and affordable specialty coffee chain, today announced an investment of $2 million in seed funding led by Tanglin Venture Partners. The round was also supported by Panthera Peak, angel investors KRS Jamwal, Rana George, OTP Ventures, Adedeji Desalu, Amrut Dixit, Nikhil Sood, and Akshit Goya and the first investors were 100X.VC.
The funds will be used to further enhance abCoffee’s tech stack, expand its product range, and make its affordable specialty coffee more accessible across Mumbai and Delhi through its retail grab and go outlets, as they call it, abCoffee decks.
abCoffee was founded in 2022 with a mission to democratize specialty coffee by making it more accessible. The company offers a wide variety of freshly brewed coffees at affordable prices, sourced from the leading farms in Chikmagalur and roasted to perfection to suit the Indian palate.
“We are thrilled to have the support of such renowned investors who believe in our mission to make specialty coffee accessible to everyone,” said Abhijeet Anand, Founder and CEO of abCoffee.
“This investment will enable us to accelerate our growth and bring our unique coffee experience to more neighborhoods across India. In the coming, 8-12 months, we keep the same momentum of growth; ensuring people are at heart of everything and bring the abCoffee’s specialty coffees to India’s new neighborhoods.”
“As the first investors in abCoffee, we are delighted that they have been able to raise funds to fuel their rapid growth. In a burgeoning market, abCoffee has the perfect mix of the right product, strong team and proper positioning to propel them into becoming a leading coffee brand in India in the coming years”, Ninad Karpe, Founder & Partner, 100X.VC.
The company is headquartered in Mumbai.
abCoffee is India’s highest customer rated and first tech-enabled affordable Specialty Coffee Company. The company was founded in 2022 by Abhijeet Anand, IIT Dhanbad alumnus with 10 years of International experience in the petroleum industry. abCoffee's mission is to democratize specialty coffee by making it more accessible, spurring local coffee hubs nationwide, and motivating individuals to drive the change they wish to witness in the world. The company offers a wide variety of freshly brewed coffees at affordable prices. abCoffee's coffees are sourced from the best farms in Chikmagalur and roasted to perfection to suit the Indian palate. The company's tech-enabled operations ensure that customers receive the highest quality at the quickest turnaround time, every time.