abCoffee, a tech-enabled and affordable speciality coffee chain said Tuesday that it has raised $2 million in seed funding from investors led by Tanglin Venture Partners. Panthera Peak, 100X.VC, OTP Venture Partners and other angel investors, also participated in the seed round.
The funds will be used to further enhance abCoffee’s tech stack, expand its product range, and make its affordable specialty coffee more accessible across India through its retail grab and go outlets, the company said in a statement.
Mumbai-headquartered abCoffee was founded in 2022 with a mission to democratize speciality coffee by making it more accessible. The company offers a wide variety of freshly brewed coffees at affordable prices, sourced from the leading farms in Chikmagalur and roasted to perfection to suit the Indian palate.
“We are thrilled to have the support of such renowned investors who believe in our mission to make specialty coffee accessible to everyone,” said Abhijeet Anand, Founder and CEO of abCoffee. “This investment will enable us to accelerate our growth and bring our unique coffee experience to more neighborhoods across India. In the coming, 8-12 months, we keep the same momentum of growth; ensuring people are at heart of everything and bring the abCoffee’s specialty coffees to India’s new neighbourhoods.”
“As the first investors in abCoffee, we are delighted with the rapid growth that abCoffee has been able to achieve. In a burgeoning market, abCoffee has the perfect mix of the right product, strong team and proper positioning to propel them into becoming a leading coffee brand in India in the coming years”,Ninad Karpe, Founder & Partner, 100X.VC
“We believe abCoffee has got the right balance of premium coffee at the right pricing. With its asset light and capital lean approach abCoffee is uniquely positioned to build a pan India affordable coffee chain. The initial traction in Mumbai/Delhi across their numerous outlets has been phenomenal and the next 8-12 months promises to be extremely exciting. We are delighted to back abCoffee” Nikhil Bhandarkar, Founder & MD Panthera Peak Capital.