Speciality coffee and cocoa startup Subko Coffee Roasters said it has received $10 million in a funding round from Zerodha’s Nikhil Kamath and others.
The Blume Founders Fund, The Gauri Khan Family Trust and actor John Abraham, among others also participated in the funding round.
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The company was valued at approximately $34 million post-funding.
The company will use the funds towards enhancing the talent pool, developing tech-enabled customer experiences, bolstering product and design R&D, improving farm-level infrastructure for speciality green coffee and fine cacao beans, and launching new ‘ready to drink’ coffee products.
Subko is also planning to launch flagship experience cafes in different formats across select cities in India and globally.
“Nikhil’s participation is not just an investment but a testament to our brand’s potential. His genuine desire to enable the growth of homegrown Indian brands and ability to intertwine complex value judgments in consumer markets aligns perfectly with our mission. I am also deeply grateful to all the investors as well who have supported us before Nikhil’s arrival on board,” said Rahul Reddy, founder, CEO, and creative director of Subko.
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He also said that the company was committed to facilitating calibrated, quality-first expansion of Subko’s craft café experiences to select Indian cities and potentially to global capitals.
“My journey with Subko, transitioning from a customer to an investor, has given me unique insights into the brand’s evolution and potential. I am eagerly looking forward to witnessing the brand’s narrative unfold and flourish in the coming years,” said Nikhil Kamath.
Subko offers caffeinated drinks along with baked bread-pastries and coffee roasters. It sources speciality coffee, fine cacao, and wheat directly from farmers and emphasises hyper-traceability, which involves tracking and documenting every step in the supply chain, including recent block-chain-enabled coffee and pioneering direct tipping systems for coffee farmers.
The coffee and cocoa startup competes with Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co.
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Published: 26 Mar 2024, 04:16 PM IST