B2B beverage vending startup Dwija Foods Rs 5.15Cr led by Negen Capital AIF

Mumbai-based B2B beverage vending startup Dwija Foods has announced its maiden institutional fund-raise worth Rs 5.15 crore (approx $644K) led by Negen Capital AIF.

Founded in January 2020 by Dibakar Chatterjee, Jayati Chatterjee, and Shailesh Pardeshi, Dwija says it provides tech-enabled brewing focussed on delivering a wide range of choices in tea, coffee, and adjacent beverages to enterprises through their brand ‘XTC’.

The company serves corporates and HoReCa across the country through its direct and distributor channels.

"The B2B beverages market is ready to be disrupted and we are proud to state that Dwija is re-writing the rules. Brand XTC emphasizes on personalized fresh brews made possible with exceptional product curation and differentiated vending technology," said Dibakar Chatterjee, Founder of Dwija Foods.

The startup claims that it sources its tea and coffee and has curated a unique variety of in-house blends to provide customers with the experience of having a homemade beverage at the workplace. These blends have been well accepted across the country, it claims.

Dwija also said that all machines are ‘Made in India’ even as the company makes extensive investments in R&D for brewing technology, contactless vending solutions, and IoT enablement.

Commenting on the investment, Neil Bahal, Founder of Negen Capital, said, "The company was established only months before Covid hit India and the easiest thing for this team would have been to buckle under, like so many businesses had to. Credit to the team to have not only survived the time but emerge stronger and the runway ahead seems to be sufficiently promising."

"Dwija is well placed to participate in the India Inc. growth story with its new age Tea/Coffee vending machines. It is already in business with 100+ Marquee Corporate and MNC clients and we are delighted to join Dibakar and team on this Journey!" said Saket Lohia, Head of IC - Negen Capital AIF.

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