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GoodDot teams up with ICCA Dubai to elevate plant-based culinary skills globally

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GoodDot

GoodDot, a prominent player in plant-based meat alternatives, has announced its collaboration with the International Centre for Culinary Arts (ICCA) Dubai. This partnership aims to empower chefs with specialized certifications in crafting exquisite plant-based protein dishes. Marking a significant milestone in the evolution of plant-based protein, GoodDot and ICCA Dubai are committed to creating a standard in which the world consumes plant-based protein.

Sunjeh Raja, the Director & CEO of ICCA Dubai, emphasized, “At the ICCA, we believe that a culinary school is an ideal platform to nurture the chefs of tomorrow and to instil a deep understanding of sustainability. Our partnership with GoodDot underscores our commitment to integrating sustainable practices from the beginning of a chef’s journey. By equipping young chefs with the knowledge and skills to craft plant-based protein dishes, we have helped empower them to lead the way towards a more sustainable culinary future.”

“In partnership with pioneers and leaders in the Plant-based proteins like GoodDot, Resources Nature aims at bringing to the fore leading brands from the Indian Sub-continent. In providing comprehensive distribution infrastructure & services, we pride ourselves in being a part of the eco-system to provide sustainable Alternative-Protein food offerings in both HoReCa and Retail segments across the Middle East and beyond. Affordable, competitive, and nutritious products are the cornerstone of Resources Nature Trading LLC,” said Sanjay Kavalekar, Executive Director, Resources Nature Trading.

Amidst the global shift towards sustainable and cruelty-free dining experiences, there has been a surge in demand for plant-based protein, prompting chefs to seek ways to enhance their skills. Recognizing this demand and aiming to help chefs adapt to the evolving culinary landscape, GoodDot and ICCA Dubai have partnered to offer a specialized certification program. This tailored program is designed to equip chefs with the knowledge and skills to excel in plant-based cooking.

Highlighting the Gooddot products, Chef Islam Masoud, Chairman of Young Chef Club, Emirates Culinary Guild said “I would like to extend my gratitude to ICCA and GoodDot for organising this immersive experience in the world of Novel Plant Proteins. Plant based proteins have a very important role to play in widening the culinary horizons of consumers and also have an incredible sustainability foot-print. It was really interesting to see how Chefs can apply their culinary skills to versatile formats of plant-based proteins and curate various dishes and cuisines from them. In the days ahead consumers across the Middle East can expect incorporation of local flavours and cooking traditions in the space of plant proteins.”

Continue Exploring: The Good Food Institute India unveils first comprehensive report on India’s $4.2 Billion smart protein sector

Adding to this, Chef Yara Mostafa, TV Presenter Chef, Jumeirah Hotels & Resort, said, “As a chef, we are always looking for new ingredients to apply our culinary skills too. The course on Smart Proteins organised by the ICCA was an incredible introduction for me to the entirely new world of alternative proteins. I was pleasantly surprised to see the versatility of GoodDot plant proteins which could be cooked across various global cuisines. With more and more consumers & institutions looking to diversify their protein portfolio by incorporating plant proteins in their offerings, such experiential programs on plant-based proteins will go a long way in mainstreaming plant-based proteins in the Middle East.”

“The world is increasingly embracing plant-based living, thanks to the multiple benefits the lifestyle carries. I am confident that the GoodDot-ICCA Dubai partnership will stand as a beacon of innovation, education, and culinary excellence. Our collaboration will set an example and encourage culinary schools around the world to dive deeper into the world of alternative proteins,” said Abhishek Sinha, Founder, GoodDot.

Continue Exploring: Nestlé India collaborates with SOCIAL and BOSS Burger to debut MAGGI’s plant-based menu across major cities

Plant-based protein is embraced by a diverse spectrum of people facing myriad challenges due to contemporary lifestyles. Offering essential nutrients while reducing intake of saturated fats and cholesterol, plant-based proteins contribute to improved health outcomes. Moreover, they address crucial sustainability and food security issues, making a global impact and aiding in environmental conservation and resource preservation. Companies like GoodDot provide consumers with a more cost-effective protein alternative compared to animal meat, while the versatility in recipes and preparation methods for plant-based protein remains largely untapped despite its increasing adoption as a primary source of nutrients.

The collaboration between GoodDot and ICCA Dubai not only highlights their dedication to sustainable dining but also positions itself to establish a new benchmark for plant-based culinary education worldwide.

Continue Exploring: GFI India study unveils popular choices in plant-based foods: Chicken seekh kabab and soy milk lead the pack in consumer trials

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Baron Capital elevates Swiggy’s valuation to $12.1 Billion, marking 13% increase from previous fundraise

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Swiggy
Swiggy

A fund overseen by Baron Capital Group, an asset manager headquartered in the United States, has increased the fair value of the food-delivery platform Swiggy to $12.1 billion. This marks a 13% increase from Swiggy’s previous valuation of $10.7 billion, which was set during its last round of fundraising in 2022.

Baron Capital, involved in the $700-million funding round in January 2022, has once again increased the fair value of its stake in Swiggy for the third consecutive time. The most recent valuation, as of December 31, 2023, was reported in filings submitted to the US Securities and Exchange Commission.

As of December 31, the fund managed by the asset manager held a stake valued at $87.2 million in Swiggy’s parent company, marking a 17% increase from $74.4 million in the previous quarter. The initial value of the stake at the time of acquisition was $76.8 million.

Crossover funds, which allocate investments to both publicly traded and privately held companies, regularly reassess the valuation of their portfolio firms. This determination of fair value takes into account various factors such as significant events within a company or the comparative performance of similar companies in the stock market.

Continue Exploring: Swiggy prepares for IPO with name change to Swiggy Private Limited

As of December 31, Baron Capital Group, through two of its funds, also held stakes worth more than $11 million in Zomato, Swiggy’s chief rival.

From September 30 to December 31, the share price of Gurugram-based Zomato surged by 22%. By Friday, its market capitalization had reached INR 1.41 lakh crore (equivalent to over $17 billion).

Baron Capital isn’t the sole investor to have adjusted Swiggy’s fair value in its records. On January 4, it was reported that Invesco had raised Swiggy’s valuation to $9.5 billion, as of October 31, 2023.

Continue Exploring: Invesco raises Swiggy’s valuation by 9% to $8.5 Billion, marks second consecutive increase

Swiggy is also preparing for a $1-billion initial public offering (IPO). On January 23, it was reported that the company’s IPO is anticipated to include an offer-for-sale component valued at a minimum of $600 million, allowing existing investors to sell off a portion of their stake.

In December, Prosus, the largest shareholder of the firm, announced that Swiggy had reduced its losses by 35% compared to the previous year, with losses amounting to $208 million for the half-year ending on September 30.

Continue Exploring: Swiggy may file IPO by fiscal year end, plans to raise capital with combination of offer-for-sale and new issue; Prosus contemplates stake reduction

Swiggy and Zomato are in fierce competition for a larger portion of their primary food-delivery market. Meanwhile, industry experts and analysts highlight their quick-commerce divisions as the driving force behind the next growth phase. Zomato possesses the quick-commerce company Blinkit, while Swiggy operates within this sector through its Instamart vertical.

As per a January report from Bernstein, Zomato commanded a 54% market share in terms of gross merchandise value (GMV) in the food delivery segment, whereas Swiggy held 46%.

“Zomato’s active user base continues to grow faster than Swiggy. We expect that Zomato stands to gain higher incremental GMV as compared to Swiggy,” it had noted.

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Dabur India introduces all-women production team near Indore

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Dabur
Dabur

Dabur India has established an all-women production line at its largest greenfield plant near Indore, with a crew of 20 women engaged in the production of the company’s Vatika hair oils.

The move signifies the fast-moving consumer goods company’s dedication to building a more diverse workforce and promoting women’s empowerment in the manufacturing industry, as stated in a company announcement.

The company plans to expand this initiative by including 30 more women in its factory workforce, it said.

“Dabur has always been committed to the principle of equal opportunity in employment. We continue to make progress on our commitments as we enhance representation and inclusion across our organisation,” said executive director-HR Biplab Baksi. “Setting up an all-woman production line is one step forward in this direction and seeks to not only transform a traditionally male-dominated manufacturing sector but enhance the lives of local women and the community in the process.”

Dabur has set up a new production line at its INR 550-crore greenfield manufacturing unit near Indore in Madhya Pradesh. The purpose is to address the increasing demand for its natural personal care products, especially hair oils. With a capacity to produce 2.5 million packs annually, the production line will operate in three shifts.

Continue Exploring: Dabur announces INR 135 Crore investment for new greenfield facility in South India

“This is a powerful statement for gender equality and women’s empowerment in the workplace, but also serves as a shining example of breaking stereotypes and providing equal opportunities,” said global head of operations Rahul Awasthi.

“This unit exclusively produces a range of hair care products designed by women, produced by women, for women. This unique approach ensures that the products cater to the diverse needs and preferences of the female consumer base, fostering a strong sense of connection between the brand and its consumers. And in the process, this unit is also significantly contributing to economic independence,” he said.

Awasthi stated that the implementation of an all-women workforce has acted as a catalyst for elevated productivity, strengthened team unity, improved efficiency, meticulous attention to detail, and dedication to quality standards. These factors have resulted in a 10% boost in the factory’s overall productivity.

Continue Exploring: Britannia Marie Gold empowers womenpreneurs with launch of HerStore

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NCLT rejects resolution plan for Cambay Hotels operator

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Cambay Hotels
Cambay Hotels

The bankruptcy court in Ahmedabad has rejected Gujarat-based Express Group of Hotels’ revival plan for Neesa Leisure Ltd, which operates a luxury hotel chain under the brand Cambay.

The company has admitted liabilities of INR 1,580 crore, whereas the resolution plan approved by the lenders proposed to give INR 150 crore to them to acquire the company through the bankruptcy process. The successful resolution applicant had proposed INR 250 crore towards capex and fresh funds, bringing the total value of the plan to INR 400 crore.

“The resolution plan approved by CoC (committee of creditors) has not been done with a process that can be approved by this adjudicating authority as it lacked a due and transparent process of examining each application on its merits,” the division bench of judicial member Chitra Hankare and technical member Velamur G. Venkata Chalapathy said in its order on March 1.

Continue Exploring: NCLT warns Dunzo of moratorium over unpaid dues worth INR 4 Cr

Prior to the rejection of the plan by the National Company Law Tribunal (NCLT), Neesa Leisure’s lenders had given their approval with a 67.5% voting majority.

“The plan has treated the secured creditors to be paid and not considered the claims of unsecured creditors when the majority of the assets are under dispute which are mainly leased properties against which these secured creditors have created exposure,” said the bench.

The insolvent company’s assets are situated in Gandhinagar and Ahmedabad in Gujarat, as well as in Neemrana, Udaipur, and Jaipur in Rajasthan.

According to Vishal J Dave, an independent counsel and insolvency consultant from Ahmedabad, the next steps in this case would involve creditors collaborating to devise a new plan, addressing the issues highlighted in the order, as some of them delve into the core of the matter.

Initially, the company entered the resolution process after Asset Reconstruction Company (I) Ltd filed an application in April 2019.

Numerous strategic buyers and investors are actively seeking hotel and resort properties undergoing bankruptcy proceedings due to loan defaults. The surge in revenge tourism following Covid-19 lockdowns has rendered the sector appealing to well-funded individuals and entities.

In January, Hemant Kanoria-promoted Sarga Hotels, which operates a five-star hotel under the Westin brand in Kolkata, was acquired by Shri Ram Multicom under the Insolvency and Bankruptcy Code (IBC) process.

Likewise, investors and strategic buyers have expressed keen interest in the resolution proceedings of Viceroy Hotels, listed on the Bombay Stock Exchange (BSE), which operates Marriott Hyderabad and Courtyard Marriott Hyderabad, as well as Mumbai-based V Hotels Ltd, the proprietor of Tulip Star, formerly recognized as Centaur Hotel Juhu.

The latest data from the Insolvency & Bankruptcy Board of India showed 7,325 companies were brought into administration until December-end last year. Of these, about 146 companies were from the hotels and hospitality sector.

Continue Exploring: NCLT grants 45-day extension for Future Supply Chain Solutions’ corporate insolvency resolution

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Nykaa continues expansion with 175th retail store opening in Mumbai’s Bandra

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Nykaa
Nykaa

Nykaa, a Mumbai-based fashion and beauty retailer, has inaugurated its 175th retail store in the city. Positioned on Linking Road in Bandra, the new Nykaa Luxe store spans approximately 2,500 square feet of retail space.

The two-story outlet provides personalised beauty services, including skin consultation with skin analyser technology, an Aveda dry bar for hair treatments, and Dyson hair styling.

Continue Exploring: Nykaa’s Q3 results ignite bullish sentiment, shares jump 6%

“Each new store stands as a testament to our focus on redefining the art of retailing. Since our first store opened a decade ago, our retail footprint has proven to be a vital channel in democratising access to beauty, especially internationally renowned brands, across India,” said a Nykaa spokesperson.

The luxury beauty store offers brands such as Charlotte Tilbury, Urban Decay, Kay Beauty, Nykaa Cosmetics, The Ordinary, Kiehl’s, Murad, Dr. Barbara Sturm, YSL Beauty, MAC, Estee Lauder, Lancome, Carolina Herrera, Benefit Cosmetics and Laneige.

Nykaa was founded in 2012 by Indian entrepreneur Falguni Nayar as a digital-first omni-channel beauty platform. Its first offline store was launched at the Terminal 3 of Delhi’s Indira Gandhi International Airport in 2014.

The company expanded its product categories by introducing Nykaa Fashion and Nykaa Man in 2018. Currently, Nykaa operates stores in formats like Nykaa Luxe, Nykaa On Trend and Nykaa Kiosks.

Operated under beauty and fashion e-tailer FSN e-Commerce Ventures, the brand reported a 97.55% rise in its consolidated net profit to INR 16.18 crore for the December 2023 quarter.

Continue Exploring: Fenty Beauty by Rihanna set to make Indian debut through Nykaa partnership

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Pansari Group launches TVOY Green Tea collection at AAHAR 2024

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SnackTeam
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TVOY Green Tea
TVOY Green Tea

Pansari Group, India’s leading FMCG brand, is set to dazzle the audience with the launch of TVOY Green Tea at AAHAR 2024. Following the successful introduction of their new tea range, Pansari Chai, featuring four distinct flavors designed to provide an exquisite tea-drinking experience, the brand has garnered immense customer satisfaction. Encouraged by this positive response, the team is now eager to bring their green tea range to the market.

The brand is now ready to venture into the realm of exquisite green tea sourced from the prestigious Nilgiris in Tamil Nadu, South India. TVOY Green Tea is cultivated in one of the top-tier tea estates, situated at an elevation of 1900 meters above MSL. Natural forests and crystal-clear streams adorn this eco-friendly sanctuary, providing the perfect setting for responsible tea farming.

Continue Exploring: Surplus in global tea market to impact Indian tea prices and exports

Shammi Agarwal, director of Pansari Group, said, “The launch of TVOY Green Tea is not just about launching a product but about embracing a lifestyle. In a time when health-consciousness is on the rise, TVOY offers a blend of tradition and wellness. The different flavors of this product include Classic green tea, chamomile, and Kahwa green tea. No major players are in the green tea market, so I think it is the perfect time to enter the market. We are excited about the journey ahead and believe that TVOY GREEN TEA will become a symbol of health and indulgence for our consumers.”

Furthermore, Pansari’s product is certified by ISO 9001:2008, HACCP 2006, and Fair Trade Labeling Organization, ensuring high standards of quality and ethical sourcing. TVOY Green Tea is packaged in biodegradable Pyramid Tea Bag Filter Packaging, including a string and paper tag, showcasing the brand’s dedication to sustainability. Unlike traditional plastic packaging, this eco-friendly option is crafted from materials with a fragile molecular structure, facilitating swift and environmentally-friendly decomposition. Additionally, TYVOY Green Tea will be competitively priced and easily accessible at nearby retail stores and online platforms.

AAHAR, a renowned Food & Hospitality fair, has experienced significant growth in recent years, and anticipation is high for its 38th edition, expected to attract an even larger crowd than previous years. This five-day expo is scheduled to take place from March 7 to March 11, 2024, from 10 am to 6 pm, at Pragati Maidan in New Delhi, India. Leading brands from various sectors will showcase their products, including Pansari Group, which will present its range of green tea flavors at Hall No. 5G and Stall No. 5G-17-A, B, E.

Continue Exploring: 38th edition of AAHAR kicks off in New Delhi, showcasing growth and innovation in the industry

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Quick-commerce sector on track to compete with e-commerce giants, says Glade Brook Capital Founder

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Paul Hudson
Paul Hudson, founder of Glade Brook Capital

The Indian quick-commerce sector might see expansion into a much wider array of stock keeping units (SKUs), bringing it closer to ecommerce in the future, according to Paul Hudson, founder of investment firm Glade Brook Capital.

In a blog post on LinkedIn, Hudson highlighted how the market is already progressing in this direction, with Blinkit and Zepto expanding their product assortment. The fund had supported Mumbai-based Zepto the previous year and had invested in Blinkit’s parent company Zomato back in 2019.

“Many believe Amazon and Walmart-owned Flipkart will continue to dominate the future of Indian ecommerce. In my humble opinion, I would not bet against the hometown teams at Zepto and Zomato,” he added.

On March 4, Snackfax reported that Blinkit and Zepto are rapidly entering ecommerce territory and are prepared to introduce several categories such as fashion, beauty, electronics, toys, home, and kitchen to their offerings. Additionally, on Thursday, it was reported that ecommerce major Flipkart is planning to launch a quick-commerce service in a few months.

Continue Exploring: Quick commerce platforms Blinkit and Zepto expand into e-commerce, targeting fashion, beauty, electronics, and more

“Blinkit and Zepto contend with relatively low average order values, modest product margins and incremental costs for rapid supply chain, logistics, fulfillment, and delivery – in addition to the cost of acquiring customers and covering overhead. As a result, the business model is operationally challenging… Over 2020-2022, dozens of quick-commerce start-ups raised and burned through billions of dollars in funding, only to not survive the 2022-2023 venture capital downcycle,” Hudson said in his post.

Nevertheless, quick-commerce firms have managed to boost their gross order value (GOV), an indicator of sales, and simultaneously reduce costs over the past few months, as stated by Hudson. These companies have reversed the trend by leveraging factors such as robust founders, genuine product-market alignment, operational efficiency, innovation, and a strong competitive advantage.

Commending the founders of both firms, Hudson argued that quick-commerce companies had successfully identified a genuine product-market fit in India.

“Ordering everyday needs via app across thousands of products, delivered within minutes, has struck a chord with Indian consumers. This is especially true for the millions of digitally native young people in India’s large and growing cities,” he said.

This development is also paving the way for additional revenue streams, such as earnings from advertisements on these platforms. Notably, it was observed that advertising is rapidly emerging as a crucial means for platforms like Swiggy, Zomato, Blinkit, and Zepto to bolster their overall revenue.

Continue Exploring: Flipkart challenges Zepto and Blinkit with quick commerce expansion

Operationally, these firms have also succeeded in optimizing aspects such as SKU selection, supply chain management, procurement, dark store layouts, and more, according to Hudson.

“For product forward and tech savvy teams, India provides the ability to cost effectively build most aspects of the tech infrastructure in-house… Zepto and Blinkit have brought nearly every aspect of the technology stack in-house, allowing the teams to customize and optimize in a manner that would otherwise be impossible,” he added.

Hudson argued that all of these factors had enabled quick-commerce firms to achieve significant operating scale and establish a strong competitive advantage. Additionally, scale facilitated a return on investment in advertising, as well as high margins on advertising revenues, which could be reinvested into areas such as technology and enhancing the customer experience, he added.

Now, these firms are entering new ground, Hudson said. “The longer term investment thesis behind quick-commerce extends beyond rapid delivery of grocery and daily needs products into a broader SKU assortment that penetrates many categories. The moonshot of delivering a wide assortment of SKUs rapidly – say in one hour – opens up the much broader ecommerce market to a superior customer value proposition,” he added.

Continue Exploring: Zomato’s Blinkit set to ramp up e-commerce deliveries with diverse product range

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D2C innerwear brand Bummer raises INR 9.25 Crore led by Gruhas Consumer Fund

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Bummer
Sulay Lavsi, Founder & CEO of Bummer

Bummer, the direct-to-consumer (D2C) innerwear brand famed for its appearance on Shark Tank, has raised INR 9.25 crore led by Gruhas Consumer Fund, with participation from Fluid Ventures Fund.

According to regulatory filings obtained from the RoC, Bummer’s board has approved a special resolution to issue 2,16,121 pre-series A1 CCPS at a price of INR 428 each, aiming to raise INR 9.25 crore.

The Gruhas Consumer Fund injected INR 8 crore into the latest round, with Fluid Ventures Fund joining in with INR 1.25 crore. Gruhas, co-founded by Nikhil Kamath and Abhijeet Pai, operates as a venture capital fund.

According to the filings, the company plans to utilize the funds to broaden and enhance its product categories.

Continue Exploring: D2C men’s fashion brand Snitch hits INR 400 Crore GMV milestone, targets INR 600 Crore by 2024

Established in 2019 by Sulay Lavsi, Bummer specializes in selling comfortable wear and innerwear designed for both men and women. The company asserts that its products are manufactured using 47% less water and contribute to an 18% reduction in carbon footprint.

After the latest funding, Gruhas emerged as the primary stakeholder with 17.3%, trailed by Beenext Asia, Fluid Ventures, and Thapar Vision LLP. The founder and CEO, Sulay Lavsi, along with his family, retains control of 45.97% of the company.

According to estimates from TheKredible, the company’s valuation post-allotment stands at approximately INR 46.5 crore ($5.6 million).

Before this round, Bummer secured 180K from Singapore’s Beenext and received INR 75 lakh through an investment on the TV show Shark Tank India, led by Aman Gupta, co-founder and CMO of boAt, and Namita Thapar, CEO of Emcure Pharmaceuticals.

In the fiscal year ending March 2023, Bummer experienced a three-fold increase in revenue from operations, reaching INR 7.83 crore. However, during the same period, the company’s losses surged 2.8 times to INR 2.94 crore.

Continue Exploring: Men’s innerwear brand XYXX eyes 50-70% growth, diversifies into Athleisure

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abCoffee secures $3.4M in Series A funding led by Nexus Venture Partners, targets 150 stores by end of 2024

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SnackTeam
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abCoffee
Abhijeet Anand, Founder, and CEO of abCoffee

abCoffee, a specialty coffee quick-service restaurant chain, has secured $3.4 million in its Series A funding round, spearheaded by Nexus Venture Partners, with participation from its current investor, Tanglin Venture Partners.

Prior to this round, the startup had secured $2 million in its seed round, with Tanglin Venture leading the investment in September last year.

Continue Exploring: abCoffee secures $2 Million in seed funding to fuel growth in India’s specialty coffee market

The newly acquired funding will be utilized by abCoffee to enhance its supply chain and technology infrastructure, facilitating the delivery of on-demand coffee beverages at reduced prices and faster turnaround times.

Established in 2022 by Abhijeet Anand, abCoffee offers a diverse range of freshly brewed coffees at budget-friendly rates, encompassing traditional blends such as Americano, Latte, Flat White, Iced Latte, and Irish Cold Coffee.

Speaking on the funding, Abhijeet Anand, Founder, and CEO of abCoffee, said, “We are thrilled to partner with Nexus Venture Partners and receive continued support from Tanglin Ventures in our mission to make specialty coffee accessible and enjoyable for everyone in India. We continue to remain extremely capital efficient, leverage supply chain optimization and continue to innovate new products for the masses.”

“abCoffee’s commitment to making specialty coffee accessible to the masses resonated strongly with us. Their innovative tech model and focus on high-quality, ethically sourced beans and efficient brewing methods allow them to offer premium coffee experiences at surprisingly affordable prices. We believe this unique approach has the potential to disrupt the Indian coffee market and make premium coffee beverages a mainstream beverage enjoyed by everyone,” said Suvir Sujan, Managing Director at Nexus Venture Partners.

Ravi Venkatesh, Managing Partner at Tanglin Venture Partners added, “Over the past year, we’ve been privileged to witness how abCoffee has scaled and are excited to double-down in this funding round also.”

With a customer loyalty rate of 61%, which is nearly double the industry average, the company underscores its dedication to exceptional service, boasting a remarkable turnaround time (TAT) of 1.5 minutes.

In a span of 20 months, the brand has recently launched 25 outlets across Mumbai and Delhi. With ambitions set high, the brand aims to reach 150 stores by the end of 2024.

Continue Exploring: abCoffee expands rapidly: 25 outlets opened in 20 months, aims for 150 by 2024

It competes with Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, Seven Beans Co., and numerous others.

The global coffee market remains significant, with the Indian coffee market projected to reach $2.30 billion by 2030 at a compound annual growth rate (CAGR) of 12.5 percent. Notably, the trend within this sector indicates a rising demand for unique, high-quality coffee experiences and diverse flavor profiles, a demand that abCoffee aims to capitalize on by offering premium specialty coffee through its convenient, efficient, and innovative grab-and-go outlets.

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