The coffee brand, First Coffee secured 1.2 million USD in its ongoing seed funding round from BEENEXT. The funding round saw participation from other investors including AngelList India, Ashish Gupta of Helion Venture Partners, Harley coffee estate’s Chandini Purnesh, and others. The startup focuses on providing coffee with the best customer experience. The company offers its services through its online platform and offline stores.
The startup plans to use these fresh proceeds to scale its services, enhance its platform, expand its services, and develop its market presence. The company wants to open its stores in more locations in the country using this new investment. First Coffee aims to open its stores in urban areas across Delhi NCR, Delhi, and tier-I cities in India. The company provides a chain of limited-service restaurants serving coffee. The mobile application allows users to skip lines and easily order or book reservations. The online platforms also enable customers to track their orders, earn rewards, and select the coffee according to their preferences.
First Coffee will mainly focus on small format QSR outlets in high-footfall areas such as metros, malls, and corporate parks. The startup intends to use some of this investment to hire more employees and amplify its marketing efforts. Entrackr reported. The coffee brand combines culture, design, and new customer experience with its premium coffee. The startup claims to use experimental big data with analysis powered by Artificial Intelligence to create a technology-based retail model. The company aims to launch 35 more stores in North India by the second quarter of next financial year.
The Delhi-based startup is focused on providing a better customer experience to strengthen its market presence. The founder of First Coffee, Sohrab Sitaram told inc42 that the company’s grab-and-go model with a focus on sustainability with tech-driven customer engagement is enabling the company to strengthen its market presence. The company reported a 25 percent MoM growth across its four stores. The development came just after the coffee market saw increased investor interest. The customer market insights showed that the Indian coffee market grew annually at a CAGR of 9.87 percent and is expected to reach 1227.47 USD in the next eight years. First coffee faces competition from other coffee brands in India.
Conclusion :
The Indian coffee brand First Coffee secured 1.2 million USD from Beenext in its seed funding round. Beenext led the round with the participation of AngelList India, Innov8’s Dr. Ritesh Malik, Harley Coffee Estate’s Chandini Purnesh, Apex Group’s Aman Bahel, and Nakul Dev Chawla of Art Mumbai. The startup intends to use this fresh capital to scale its operations, expand its services in India, and develop a market presence.
The company aims to open 3 stores in North India in the second quarter of next financial year. The startup provides an online platform to order and track coffee orders. The Indian coffee market is expected to reach $1227.47 million by 2032. First Coffee offers its services through online applications and retail stores.
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