The QSR coffee and food firm Third Wave Coffee revealed that it has raised $35 million in a Series C fundraising round led by Creaegis and including current investors. The funds will be used by the business to expand across the nation, strengthen its supply chain, improve its capabilities, and make technological advances.

Sushant Goel, Co-Founder, and CEO, 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. Going forward, we will continue to double down on technology and product innovation to deliver a superior cafe experience across the country”.

Founded by Ayush Bathwal, Anirudh Sharma and Sushant Goel in 2017, the business now has more than 100 locations. WestBridge Capital led a $21 million Series B investment in the business in May 2022, and notable angel investors also contributed.

Prakash Parthasarathy, Managing Partner & 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, 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”.

Third Wave Coffee just marked its seventh year and has a network of more than 100 cafés. Cities include Bangalore, Mumbai, Delhi, Gurgaon, Pune, Hyderabad, Noida, Coonoor, and Chandigarh are home to it.