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Third Wave Coffee Raises $ 35 Million In Series C Funding Led By Creaegis

Existing investor WestBridge Capital also participated in the round

Third Wave Coffee Raises $ 35 Million In Series C Funding Led By Creaegis
POSTED ON September 29, 2023 2:14 PM

Third Wave Coffee has raised $35 million in a Series C funding round led by Creaegis with participation from existing investors. The company aims to utilize the capital for country-wide expansion, bolstering its supply chain, enhancing capabilities, and investments in technology.

Commenting on this pivotal development, Sushant Goel, co-founder, and CEO of Third Wave Coffee said, "We are thrilled to have Creaegis lead our Series C fundraise with participation from our existing investor Westbridge Capital and angel investors like Sujeet Kumar . We believe that the coffee-first QSR industry is one of the fastest growing consumer categories in the country. We have grown 5x through the last year and strategically expanded our footprint across the nation."

Prakash Parthasarathy, managing partner and CEO and Nitish Bandi, partner, Creaegis, said, “Third Wave Coffee is emerging as one of India’s most loved brands, answering to the country’s aspirations. We are excited to support the management team in their next phase of growth, using a digital first approach to build an iconic Indian company.” 

Sandeep Singhal, managing partner of WestBridge Capital said "We have been quite impressed with the tremendous traction and customer love that Third Wave Coffee has generated across major cities in India. We are excited to strengthen our partnership with the company and work towards scaling both the footprint and customer experience manifold." 

Founded by Ayush Bathwal, Anirudh Sharma and Sushant Goel in 2017, Third Wave Coffee has expanded to 100+ stores. In May 2022, WestBridge Capital led a $21 million Series B investment in the company along with participation from marque angel investors.

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