Funding in seed round led by Tanglin Venture Partners and supported by 100X.VC, Panthera Peak, OTP Venture Partners and other angel investors
abCoffee, India’s first tech-enabled and affordable specialty coffee chain headquartered in Mumbai, recently announced an investment of $2 million in seed funding led by Tanglin Venture Partners. The round was also supported by 100X.VC, Panthera Peak, OTP Venture Partners and other angel investors.
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 India through its retail grab and go outlets.
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 abCoffee’s specialty coffees to India’s new neighborhoods.”
“As the first investors in abCoffee, we are delighted with the rapid growth that abCoffee has been able to achieve. 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,” said Ninad Karpe, Founder & Partner, 100X.VC.
“We believe abCoffee has got the right balance of premium coffee at the right pricing. With its asset light and capital lean approach abCoffee is uniquely positioned to build a pan India affordable coffee chain. The initial traction in Mumbai/Delhi across their numerous outlets has been phenomenal and the next 8-12 months promises to be extremely exciting. We are delighted to back abCoffee” added Nikhil Bhandarkar, Founder & MD, Panthera Peak Capital.
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.