Bharat Sethi, the Founder and CEO of Rage Coffee, announced that the D2C coffee startup achieved INR 100 Crore in cumulative brand sales in December 2023.
Sethi shared the news on LinkedIn, stating, “I’m delighted to share that a new age coffee company that most wrote off before it started and many thought as taking on a battle ‘not worth fighting’ hit INR 100 Cr in cumulative brand sales in Dec 2023 towards the end of its 4th year of operations.”
“We achieved this figure before the beginning of our 5th year and let me tell you, a lot of it is mad hustle, execution capabilities, support of our investors and partners who’ve backed us with tremendous belief in us and most important our customers and team,” he added.
Sethi said that the startup successfully overcame several challenges to reach this milestone despite having only 5-7 SKUs.
More than 3.2 million customers have experienced the brand’s diverse range of products, spanning sachets to jars. This exposure occurred both directly and through collaborations with Horeca partners, with a substantial 80% engagement observed in the past 24 months, according to Sethi. Emphasizing the brand’s versatility, the CEO asserted that the coffee brand has successfully reached customers through a combination of online and offline channels, encompassing hyperlocal platforms and marketplaces. Notably, there is no reliance on a singular channel for customer acquisition.
Continue Exploring: Rage Coffee gears up for global expansion, set to open kiosks and strengthen market presence
Established in 2019, Rage Coffee is one of the world’s first plant-based vitamin coffee brands. The startup claims to use handpicked beans from Ethiopian and Indian plantations.
Beyond Instant Coffee: Diversification of Rage Coffee Products
It has diversified beyond instant coffee, now offering products such as cold coffee brew bags, frothers, and other merchandise. In 2022, the brand entered the realm of snack bars and cookies, introducing gluten-free snacks free of preservatives. Additionally, the company established a 30,000-square-foot manufacturing unit in Gurugram.
Rage Coffee experienced a revenue surge, achieving over a fivefold increase to INR 23.5 Cr in the fiscal year 2022, compared to INR 4.5 Cr in the fiscal year 2021.
Rage Coffee has set a revenue goal of INR 500 Cr for the year 2025.
The startup has secured investments from notable backers, including Sixth Sense Ventures, Refex Capital, and 9Unicorns.