Toffee Coffee Roasters Raises Rs 5 Crore in Pre-Series A Round
- Toffee Coffee Roasters raises Rs 5 crore led by IPV
- Funds to expand roastery, improve packaging, and build new products
- Brand currently serves 2 lakh+ customers and targets major production scale-up
Toffee Coffee Roasters, a fast-growing specialty coffee brand, has raised Rs 5 crore in a pre-Series A funding round led by Inflection Point Ventures (IPV), with participation from 66 bridge partners, Abhijit Vemuganti, and Invesst. The Mumbai-based startup, previously featured on Shark Tank India and backed by Ritesh Agarwal, plans to use the capital to expand operations, upgrade its backend roastery, improve packaging, and launch new products.
Founded in 2019 by Rishabh Nigam and Nandini Shrivastava, Toffee Coffee Roasters began as a single specialty cafe before shifting to roasted coffee delivery during the 2020 lockdown. Since then, the brand has grown rapidly, serving more than 2 lakh customers across marketplaces, its website, and quick-commerce platforms.
The company operates a 10,000 sq ft roastery, where it directly sources, processes, and freshly roasts coffee before distributing it through its own channels. With a lean supply chain and minimal middlemen, the brand says it can deliver higher-quality coffee at competitive prices.
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Toffee Coffee Roasters currently produces over 5 tonnes of coffee each month, with 40,000+ units consumed monthly equivalent to 3-4 lakh cups of coffee at home across India. The startup now aims to scale production to 50 tonnes per month, a capacity that would support Rs 8-10 crore in annualised revenue and reach 8-10 lakh customers nationwide. It claims to hold 1-2% share of India’s overall coffee market.
The company sees strong opportunity ahead, with the global coffee market valued at $150-200 billion and India’s market growing at a 20 percent+ CAGR.
