New Delhi's First Coffee has successfully raised $1.2 million in seed funding, led by BEENEXT, a venture capital firm based in Singapore. This funding will help the company expand its operations and reach a total of 35 locations by mid-2025. First Coffee, co-founded by Sohrab Sitaram and Shiv Dhawan in 2023, focuses on single-origin coffee sourced exclusively from Harley Coffee Estate in Karnataka. The brand aims to establish small-format stores in high-traffic areas such as shopping centers and metro stations.
• The new investment will support marketing efforts, hiring new staff, and expanding to 35 stores across Tier 1 cities in North India.
• First Coffee has seen impressive growth, with a 25% month-on-month increase in sales and each outlet serving around 100 cups daily.
• The competitive Indian specialty coffee market is attracting various startups, with companies like abCoffee and Nothing Before Coffee also expanding rapidly.
This funding round highlights the growing interest in India's specialty coffee market, showcasing its potential as a thriving hub for coffee culture and entrepreneurship. As more players enter the scene, consumers can expect a diverse range of coffee experiences and options.
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