GRM Overseas, a major player in India’s rice export and FMCG sectors, has secured a 44% equity stake in Rage Coffee, an Indian retailer specializing in instant and ready-to-drink coffee. The financial details of the transaction have not been disclosed.
Established in 2018, Rage Coffee operates with the backing of Mumbai’s Sixth Sense Ventures. The company engages in the production, marketing, and distribution of packaged coffee products through its website, online platforms, and over 5,000 offline retail locations.
Rage Coffee plans to use the new investment to enhance its retail footprint both domestically and internationally. Currently, the company’s products are available in the UK, UAE, Sri Lanka, Nepal, and Bhutan through various online and offline retail channels.
Sixth Sense Ventures CEO Nikhil Vora indicated that Rage Coffee has ambitions to enter markets in Saudi Arabia, Continental Europe, and North America. “Partnering with GRM will enable Rage Coffee to harness an extensive sales and distribution network, opening up new avenues for international expansion,” Vora stated.
GRM Overseas views this acquisition as a strategic move to align with its goal of diversifying into digital-first, health-oriented, and lifestyle brands. The company plans to use its export expertise to advance Rage Coffee’s global market presence.
Atul Garg, Managing Director of GRM Overseas, emphasized the potential for growth, saying, “We see significant opportunities in both enhancing Rage Coffee’s domestic market presence and utilizing our export channels. The coffee sector complements our international expansion strategy, and we are eager to integrate our industry experience with Rage Coffee’s innovative offerings to elevate the brand on a global scale.”
This acquisition marks the inaugural investment by GRM Overseas’ newly established 10X Ventures platform, which is set to invest Rs 200 crore ($24 million) in digital-first, direct-to-consumer brands. GRM Overseas anticipates that these investments will account for 20% of its future revenue, while the remaining 80% will come from traditional sectors such as rice, wheat, and edible oils.
Rage Coffee also benefits from high-profile endorsements by Indian cricketer Virat Kohli and actor Rannvijay Singha, who serve as brand ambassadors.