AbCoffee Raises $2mn In Seed Round From Tanglin, 100X.VC, Others
abCoffee aims to democratize specialty coffee with affordable brews from top Chikmagalur farms. A USD 2 million funding injection will fuel tech upgrades, product expansion, and nationwide outlet growth
In a bid to make specialty coffee accessible to a wider audience, abCoffee, India's tech-enabled affordable coffee chain, has secured USD 2 million in seed funding, led by Tanglin Venture Partners, with support from 100X.VC, Panthera Peak, OTP Venture Partners, and angel investors.
Founded in 2022, abCoffee is on a mission to democratize specialty coffee by offering a diverse range of freshly brewed, reasonably priced coffees sourced from Chikmagalur's top farms. This funding boost will bolster their tech infrastructure, broaden their product line, and expand their retail grab-and-go outlets across India.
Abhijeet Anand, Founder and CEO of abCoffee, expressed gratitude for the support, stating, "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."
Ninad Karpe, Founder & Partner at 100X.VC, commented, "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."
Nikhil Bhandarkar, Founder & MD of Panthera Peak Capital, praised abCoffee's balance of premium coffee and affordable pricing, saying, "The initial traction in Mumbai and Delhi across their numerous outlets has been phenomenal, and the next 8-12 months promise to be extremely exciting. We are delighted to back abCoffee."
Headquartered in Mumbai, abCoffee has quickly become known for its commitment to providing quality coffee at a reasonable price. Founded by Abhijeet Anand, an IIT Dhanbad alumnus with extensive international experience, abCoffee sources its beans from Chikmagalur farms and ensures swift delivery through its tech-enabled operations. Their vision is to create a network of local coffee hubs across India, driven by a passion for accessible specialty coffee.