Bengaluru-based coffee & QSR chain Third Wave Coffee has secured $35 mn funding in a round led by private equity firm Creaegis.
The round also included participation from current investors WestBridge Capital and co-founder Sujeet Kumar of Udaan.
“We have about 105 stores, half of which are in Bengaluru. We are looking to add another 50-60 this year across metros and tier-1 cities,” said Third Wave Coffee cofounder and CEO Sushant Goel.
Third Wave Coffee is also present in Mumbai, Delhi, Gurgaon, Pune, Hyderabad, Noida, Coonoor, and Chandigarh in addition to Bengaluru, as reported by The Economic Times.
“We believe that the coffee-first QSR industry is one of the fastest-growing consumer categories in the country. We have grown five times through the last year and strategically expanded our footprint across the nation. Going forward, we will continue to double down on technology and product innovation to deliver a superior cafe experience across the country,” Goel added.
“We are excited to support the management team in their next phase of growth, using a digital-first approach,” Prakash Parthasarathy, managing partner & CEO, and Nitish Bandi, partner at Creaegis, said in a joint statement.
About Third Wave Coffee
The Third Wave movement—a movement committed to providing premium coffee that is expertly brewed from farm to cup—and specialty coffee was the inspiration behind the founding of Third Wave Coffee Roasters.