Rage Coffee Raises Growth Funding From GetVantage The funds will be used to achieve fivefold growth in sales by the end of 2021
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Delhi-based direct-to-costumer (D2C) brand Rage Coffee manufactures, markets, and distributes innovative coffee products, on Monday announced to have raised undisclosed funding from the revenue-based investor for e-commerce GetVantage.
"We are always on the lookout for smart investors, who understand the impact of our disruption in the large market we are operating in. Bhavik and his team are catering to Founders like me who want to build large mainstream brands but yet not lose valuable equity over time as they have an amazing non-dilutive financing model that puts revenue first. Investors like GetVantage are able to predict consumer behavior because they have a Founders' mindset. It's exciting for us to scale our business with the support of like-minded investors and growth partners like GetVantage," added Bharat Sethi, founder, Rage Coffee.
With this new funding in place, the brand is on track to expand distribution through approximately 3,000 outlets nationwide and achieve fivefold growth in sales by the end of 2021.
"Bharat and his team are building an exciting fast-growing direct-to-consumer brand in a sector that is seeing explosive growth. GetVantage was purpose-built to support young, savvy, entrepreneurs like Bharat who are focused on delighting customers with quality and innovation. We're excited to support Rage as a strategic growth-investor and partner with our frictionless funding model," said Bhavik Vasa, founder, GetVantage.
The home-grown FMCG company has said to have created craft coffee that is instantly consumable, affordable, comes in a variety of flavors—is ready to mix—and is convenient to carry in biodegradable tube shots.
"The company was born in early 2018 while I was working on a problem to solve the distribution of new-age CPG brands in India. Although there were some brands of coffee and instant coffee doing the rounds, the coffee market had huge potential and many unserved gaps, the category remained largely underserved, was devoid of any real innovation, and underpenetrated online. That is when we decided to focus on ingredients, formulations, manufacturing techniques, packaging, D2C distribution to bring a unique coffee experience to everyone. Ours is a company born out of feedback as we have used data and extensive R&D to deliver a premium quality product that is affordable and convenient at the same time," Sethi further said while discussing his creation.
Its products are retailed through their own website, all leading online platforms, and over 500 touchpoints offline pan-India through a network of distributors. They are US FDA, FSSAI, ISO registered, and manufactured at a GMP compliant facility.
"A slew of home-grown, brands like Rage Coffee are set to reshape the future of e-commerce in India. At GetVantage we are committed to providing exciting e-commerce brands with alternative capital that can supercharge their growth." shared Bhavik Vasa, founder chief executive officer, GetVantage.
D2C brands could be looking at a $100 billion addressable consumer opportunity in India by 2025, according to estimates by Avendus Capital.
