Shark Tank India-featured premium coffee brand Toffee Coffee Roasters raises Rs 5 crore in funding

Shark Tank India-featured Premium coffee brand Toffee Coffee Roasters has raised Rs 5 crore in pre-series A funding round led by Inflection Point Ventures, a Gurugram-based angel investment platform.

The round also saw participation from 66 bridge partners, Abhijit Vemuganti and Invesst as well.

The startup will utilize close to 60% of the funds as working capital for the fast-expanding operations of the company. Of the remaining funds approximately 10-15% is planned to be invested in enhancing and expanding the backend roastery. Another 10%, to be used for improving packaging quality and the rest 10-15% of the capital will be dedicated to new product development, the release notes. 

Founded in 2019 by Rishabh Nigam and Nandini Shrivastava, Toffee Coffee Roasters focuses on sourcing, roasting, and blending some of the finest coffees from around the world. The brand said has a lean supply chain, cutting middlemen to ensure better quality at the right price for the customer. 

It claims to be one of the top five coffee websites in India based on online traction and currently holds around 1-2% market share in the overall coffee category.

Toffee Coffee Roasters currently produces more than 5 tonnes of coffee every month, and over 40,000 units are consumed monthly. It now aims to scale production to 50 tonnes a month.

Mitesh Shah, Co-founder IPV, said, “Despite India being one of the world’s leading producers of coffee, most coffee lovers still turn to expensive imported coffee or café-only specialty brews for good quality artisanal coffee. On the other hand the at- home coffee market is dominated by instant coffee, leaving little space for true specialty roasts. Toffee bridges this gap by offering high quality, crafted, artisanal coffee that brings global-style coffee experiences to every Indian home.”

“India’s coffee landscape is evolving faster than ever, yet a large gap remains between mass and premium offerings. As coffee consumption grows across formats from roasted and ground to cold brews and capsules, our aim is to build a mass- premium brand that brings high-quality coffee to both at-home and out-of-home consumers at an accessible price. We believe India deserves a coffee revolution that serves not just metros, but the wider India 1 and India 2 audience, and we are committed to leading that shift,” said Nandini Shrivastava.