Toffee Coffee Roasters, a premium coffee brand, has raised ₹5 crore in its pre-Series funding A round led by Inflection Point Ventures (IPV). The round also saw participation from 66 Bridge Partners, Abhijit Vemuganti and Invesst.
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 remaining 10-15% of the capital will be dedicated to new product development, as the brand continues to expand its portfolio.
Founded in 2019 by Rishabh Nigam and Nandini Shrivastava, Toffee Coffee Roasters is a premium coffee brand that focuses on sourcing, roasting, and blending some of the finest coffees from around the world.
The company has a lean supply chain, cutting middlemen to ensure better quality at the right price for the customer. All its blends are in-house creations supported by a team that includes India’s top Q Graders and experienced master blenders.
Toffee Coffee Roasters has been featured on Shark Tank India and also has the backing of the visionary investor Ritesh Agarwal, CEO of OYO Rooms.
TCR claims to serve more than 150,000 coffee drinkers in India with a diverse range of specialty coffees.
Toffee Coffee Roasters currently produces more than 5 tonnes of coffee every month, and over 40,000 units are consumed monthly. This adds up to roughly 3-4 lakh cups of coffee made at home across the country.
The company now aims to scale production to 50 tonnes a month, a level that would support ₹8-10 crore in annualised revenue and place its coffee in the hands of 8-10 lakh customers who choose it as their daily brew.
Nandini Shrivastava, Co-founder & COO, Toffee Coffee Roasters, said, “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.”
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 speciality 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 speciality roasts. Toffee bridges this gap by offering high-quality, crafted, artisanal coffee that brings global-style coffee experiences to every Indian home.”
