Ludhiana-based premium tea brand Freshleaf raises Rs 1Cr led by Inflection Point Ventures

Ludhiana-based premium tea brand Freshleaf has raised Rs 1 crore in a seed funding round led by Inflection Point Ventures (IPV), a Gurugram-based angel investment firm.

The startup will use the raised capital to expand its marketing efforts, increase production capacity, and enhance research and development for new products. 

Additionally, the funding will strengthen Freshleaf’s brand presence, meet growing consumer demand, and introduce exciting new teas.

What does Freshlead do?

Founded in 2022, Freshleaf offers a diverse range of teas, including both sparkling and traditional varieties.

With 18 unique products on the market, Freshleaf emphasizes innovative flavours and health-enhancing elements such as added vitamins and electrolytes. The startup products cater to modern, health-conscious consumers looking for high-quality tea at accessible prices, starting from Rs 130.

Who are the founders?

The leadership team of Freshleaf includes Co-Founder and CEO Balkirat Singh, and Co-Founder and CMO Muneet Arora.

Balkirat Singh, with his background as a Chartered Accountant and former finance and sales professional, drives the company’s growth and ensures strategic financial management.

Muneet Arora leverages her design expertise and passion for tea to oversee marketing and product development, ensuring the creation of high-quality blends that resonate with consumers.

Expanding into international markets

Freshleaf claims to have reached over 550 stores across 40 cities and is expanding into international markets such as the UAE. 

Notably, The startup is venturing into modern retail and quick commerce to increase accessibility and market presence.  

“Freshleaf aligns perfectly with our commitment to supporting innovative businesses that prioritize quality and health. Freshleaf’s unique approach to crafting premium teas combined with health benefits presents an exciting opportunity for us to contribute to a startup that is set to redefine the tea industry. We believe in Freshleaf’s dedication to foster a culture of health, wellness, and taste," said Vikram Ramasubramanian, Partner at Inflection Point Ventures.

How is the tea market evolving?

The Indian tea market was valued at approximately Rs 9,277 crore ($11.1 billion) in 2023 and is expected to reach around Rs 12,277 crore ($14.7 billion) by 2032, growing at an annual rate of 3.18%.

Globally, the tea market was about Rs 41,355 crore ($49.53 billion) in 2023 and is projected to grow to approximately Rs 82,094 crore ($98.29 billion) by 2033, with an anticipated annual growth rate of 7.09%.