Quick-service restaurant (QSR) chain First Coffee has successfully raised $1.2 million (over INR 10 crore) in a seed funding round led by early-stage investment firm BEENEXT.
The funding round also attracted contributions from notable investors including Ashish Gupta of Helion Venture Partners, AngelList India, Innov8 Capital’s founder Ritesh Malik, and Da Milano’s Sahil Malik, among others.
The company plans to utilize this capital to drive expansion efforts, aiming to open 35 new stores in key urban areas across the Delhi NCR region and Tier I cities in North India by the second quarter of the next fiscal year. The funds will also support hiring initiatives and enhance marketing strategies.
Founded in 2023 by Sohrab Sitaram and Shiv Dhawan, First Coffee launched its first outlet in Delhi NCR in April 2024. The specialty coffee brand sources its coffee beans from Harley Coffee Estate in Chikmagalur, Karnataka.
“Our grab-and-go model, coupled with a focus on sustainability and tech-driven customer engagement, is enabling us to carve out a strong niche in the market. Our current four stores have experienced a remarkable 25% month-on-month growth,” Sitaram noted.
This funding comes amid growing investor interest in coffee chains. Recently, Blue Tokai Coffee Roasters raised $35 million (approximately INR 293 crore) in a Series C funding round led by Belgian investment firm Verlinvest. Additionally, listed FMCG company GRM Overseas acquired a 44% stake in Rage Coffee through a combination of primary capital infusion and secondary share purchases, though the financial details of the deal were not disclosed.
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