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Rage Coffee, a New Delhi-based FMCG coffee company, has raised an undisclosed amount of growth capital as part of its pre-Series A funding round from a clutch of investors led by Refex Capital.
The round also saw participation from marquee investors such as 9 Unicorns Venture Capital Fund, Emarson Computers, CC One Venture Labs, Spotlight Capital, Evolvx Advisory, Darshan Deora and KRS Jamwal. The company has also raised revenue-based financing from Getvantage in this round.
The freshly-infused capital will be utilised for marketing and distribution purposes as Rage Coffee plans to expand its online presence and offline footprint. The company will also use the funds to scale up production and launch new products. On the hiring front, Rage Coffee will hire senior leaders for marketing and sales, the company said in a statement.
“Our focus on ingredients, formulations, manufacturing techniques, packaging, and direct-to-consumer distribution to bring high-quality coffee products while offering a unique coffee experience to our customers place us in a great spot to build a strong brand. We are therefore planning to double down our efforts across all the channels,” Bharat Sethi, Founder of Rage Coffee, said.
“Besides, global expansion is also on our cart,” he added.
The company plans to grow its revenues by three times this year.
The Indian coffee market is estimated at ₹11,700 crore and is expected to double to ₹24,800 crore in the next five years.
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