Specialty coffee, craft baked goods, and ‘pod to bar’ chocolate brand Subko has raised $10 million in an investment round led by Zerodha co-founder Nikhil Kamath.

The round also saw participation from Blume Founders Fund, The Gauri Khan Family Trust, Priya & John Abraham, Sangita Jindal, Srinivas & Pallavi Dempo and The Mehta International Mauritius Limited Group.

The post-money valuation of Subko stands at approximately $34 million, said the company in a statement.

The funds will be used for enhancing the talent pool, developing tech-enabled customer experiences, bolstering product and design R&D, improving farm level infrastructure for specialty green coffee and fine cacao beans, and launching new ‘ready to drink’ coffee products.

The company is also evaluating and executing a roll out of flagship experience cafés in different formats across select cities in India and globally.

Also read: Starburst Accelerator SARL partners with IIT Madras to establish €100 million startup hub

“Furthermore, we are committed to facilitating the careful, calibrated and quality-first expansion of Subko’s unique craft café experiences to select Indian cities and potentially to global capitals, showcasing South Asian craftsmanship and the might of the region’s agricultural raw material. This is the vision under which we laid down the foundations of Subko and this mission has remained steadfast ever since,” said Rahul Reddy, founder, CEO, and creative director of Subko.

Subko Coffee competes with Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co. Notably, Third Wave Coffee is also backed by Zerodha’s co-founder Nikhil Kamath.

“I am deeply impressed by Subko’s commitment to showcasing the finest Indian craftsmanship on a global platform. It is paramount that a distinctive Indian brand like Subko leads the way in delivering our unique, curated experiences to the world. 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.