New Delhi-based Rage Coffee raises an undisclosed amount in round led by Refex Capital

Rage Coffee will use the funding for marketing and distribution purposes as it eyes online and offline expansion, and to launch new products, scale up production, and hire senior leaders.

New Delhi-based Rage Coffee raised an undisclosed amount of growth capital as part of its pre-Series A funding round from a clutch of investors led by Refex Capital.

According to the official statement, the round also saw participation from other marquee investors, including 9 Unicorns Venture Capital Fund, Emarson Computers, CC One Venture Labs, Spotlight Capital, Evolvx Advisory, Darshan Deora, and KRS Jamwal.  Rage Coffee also raised revenue-based financing from Getvantage in this round.

Founded in 2018 by Bharat Sethi, the startup is involved in the manufacturing, marketing, and distribution of innovative packaged coffee products. Currently, Rage Coffee has 20 distributors onboard covering 600+ offline touchpoints across India.

It counts Mumbai, Pune, Delhi-NCR, Hyderabad, Bangalore, and Chennai as its main hubs for online sales of Rage Coffee while recording maximum offline demand from Tier II cities such as Jaipur, Kochi, Ahmedabad, and North-Eastern States among others.  “We are building a truly omnichannel FMCG brand, with distribution strategies being implemented for the first time, given our digital DNA.

Over 35 percent of all business generated on our D2C channel is from repeat customers and over 45 percent of all revenue comes from second-time buyers. Global expansion is also on our cart.

I am glad to have such distinguished investors join us in this exciting journey,” Bharat said. According to the startup, the funding will be utilised for marketing and distribution purposes as its plans to expand its online presence and offline footprint. The funds will also be used to scale up its production and launch innovative new products

Apart from this, Rage Coffee will also be hiring senior leaders in marketing and sales. “We are very impressed with the way Bharat handled COVID uncertainty, grew the revenue three-fold and built strong internal capabilities in terms of strengthening distribution and marketing and launching innovative product flavours.

We are very confident of Rage Coffee’s growth story and believe that our investment will help further establish its leadership in the market,” said Sridhar Parthasarathy, Managing Partner at Refex Capital.

Recent Articles

Vanta Goes From Low-Profile Startup To $500 Million Valuation With $50 Million Sequoia Series A

Christina Cacioppo says she enjoyed the looks on investors’ faces when she opened the books on her software startup, Vanta.

Edtech startup Teachmint raises over $16 Mn in Series A round led by Learn Capital

Edtech startup Teachmint has raised Rs 122.8 crore or $16.5 million in its Series A round from new and existing investors. This...

Riot Games and Konvoy Ventures back games publisher Carry1st in $6M Series A

Africa is the last frontier for basically anything. Mobile gaming is no exception. For a continent that is home to more than 1 billion...

Paytm to set up Oxygen Plants for long-term sustainable supply across India

Raised Rs 10 crore worth donations, matches the contribution taking the total to Rs 20 crore- Aims to set oxygen plants in...

Fintech Startup, Nivesh Bags Rs. 12 Crore Funding From IAN Fund

Fintech startup Nivesh announced that it has raised $1.6 million in a pre-Series A round from IAN Fund. Other co-investors, including angel...

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox