IAN invests INR 1 Cr in Toffee Coffee Roasters, a Specialty Coffee Startup
Aimed at driving innovation in coffee and taking it to the masses, the Mumbai-based startup will use the capital to strengthen its product portfolio and grow its topline 10X in the coming months
|Toffee Coffee Roasters Co-founders Nandini Shrivastava & Rishabh Nigam|
Founded in 2019, Toffee Coffee Roasters is the brainchild of Nandini Shrivastava and Rishabh Nigam, owing to their shared love for coffee. Born in the back lanes of Bandra, this Mumbai-based startup aims at creating the best craft coffee for its customers, sourcing coffee beans from some of the finest estates worldwide by closely partnering with the farmers.
IAN Lead Investor, Rajeev Sarda said, “The coffee industry in India is growing, and we are witnessing the emergence of a new segment of consumers who are extremely taste conscious and are looking for speciality coffee with innovative blends. We firmly believe that new-age brands like Toffee Coffee Roasters are well positioned to garner a sizeable share of this growing demand. We at IAN are excited to be a part of this journey, and believe that Nandini & Rishabh have all the capabilities required to create a global consumer brand in Coffee from India.”
So far, Toffee Coffee Roasters has served over 25,000 customers since it pivoted the business online. Over 80% of the orders are placed on its website, and the rest are from aggregator platforms like CRED, Amazon, etc.
The Indian instant coffee market is evaluated at USD 0.7 billion, growing at a CAGR of 13%. While the traditional players are into one or two coffee variations, they still currently capture 77% of the market. New players have emerged to form a small portion of the market and are growing gradually to capture a significant market share.
About Toffee Coffee Roasters:
Toffee Coffee Roasters is a Mumbai Based Coffee Company known for its freshly roasted signature coffees. Known for their Barrel Aged Coffees, Fermented Coffees, Single Origin Coffees and Speciality Blends, the company sources coffee from some of the finest coffee estates of the world and roasts it artistically. As of date Toffee Coffee Roasters has served over 30,000+ users since lockdown.
Indian Angel Network is India’s first and world’s largest business angel network with close to 500 members across the world, comprising the who’s who of successful entrepreneurs and dynamic CEOs. With investors from 12 countries, IAN’s presence spans 7 locations, which includes cities in India and the UK. The network is sector agnostic and has funded start-ups across 19 sectors in India and 7 other countries growing global footprint companies. With an excellent track record, IAN has been giving excellent cash exits year-on-year to its investor members, for the last 12 years. Some of its marquee investee companies include Druva, Spinny, Box8, Uniphore, WOW Momos, Consure, Fareye, NOCCARC, Propelld, Skit.ai amongst many others.
IAN Fund, an INR 375 crore VC fund is a uniquely differentiated seed/early stage Fund that aims to transform India’s entrepreneurial landscape. The fund invests in innovative companies in sectors including healthcare and medical devices, VR, AI, software as a service, marketplaces, fin-tech, big data, artificial intelligence, agritech, and hardware. With this, IAN has created the single largest platform for seed and early-stage investing, enabling entrepreneurs to raise from Rs. 25 lakhs to Rs. 50 crores.
- Are Significant Advances in Technology Capable of Being Utilized to Benefit the Casino Industry? February 28, 2023
- Do You Think Tipping Auto Transport Driver is Necessary? February 10, 2023
- Enterprise-class OKR Platform Profit.co Raises $11 Mn Funding Led by Elevation Capital February 1, 2023
- Bengaluru Headquartered Mikro Grafeio Appoints U.S. Based Serial Entrepreneur Shyam Kumar as its Co-Founder February 1, 2023
- Federal Gov’t Will ‘Probably’ Force Americans To Eat Insects, Tucker Carlson Says February 1, 2023