TeaMonk, a Bengaluru-based premium tea brand that offers more than 50 variants of premium tea, has raised Rs 6.5 crore in a Pre-Series A round led by an angel investment platform Inflection Point Ventures with participation from Sarcha Ventures and Lead Angels.
Additionally, US-based HNIs Dr Madhu K Mohan (Eminent Endocrinologist in Washington DC and member of Public Health Foundation of India), Anil Menon (Senior Advisor to Chairman, World Economic Forum), and Jai Gupta (Entrepreneur) also participated in the round. The HNIs participated in their personal capacity.
TeaMonk has raised Rs 23.5 crore funding to date and plans to use the current funding for further market expansion in global markets like the US, the UK, and Canada. The company also plans to launch a subscription-based platform in India to further strengthen its presence in the home market.
Started in 2016, TeaMonk is backed by former Unilever senior professionals. The company’s investors also include marquee angels like Roots Ventures, Hunch Ventures, Suresh Prabhala, Rajat Gupta, Dr Madhu Mohan, Piyush Pandey, Sanjay Khosla, Raj Makkam, Jai Gupta, and Lead Angels.
TeaMonk, in a short span of three years, claims to have established itself as a trustworthy brand for its customers in India and 20 international markets like the US, Europe, the Middle East, and Japan.
The company has built its business around fresh teas sourced from top tea gardens in India, and has built a robust supply chain to ensure shortest go-to-market time to preserve the freshness of the tea leaves.
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