Subko Coffee Roasters Secures USD 10 Mn in Series B Funding, led by NKSquared The round also saw participation from Blume Ventures and Progressive LLP besides Subko's existing investors.
By Priya Kapoor
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Subko Coffee Roasters, a Mumbai-based speciality coffee and cocoa startup, has raised fresh round of investment. In its Series B funding round led by Zerodha co-founders backed investment firm NKSquared, it has bagged INR 85.10 Crore (around $10 Million) at a valuation of INR 286.92 Crore ($34 Million).
The round also saw participation from Subko's existing investors, including, Pallavi and Srinivas Dempo, Jay Mehta, Gauri Khan Family Trust, and John & Priya Abraham, via rights issue.
Apart from that, Blume Ventures and Progressive LLP also took part in the latest fundraise.
NKSquared has reported to infuse INR 70 crore for 25% stake in the coffee chain.
The startup was founded in March 2020 by Rahul Reddy, and offers caffeinated beverages, baked goods, and coffee roasts. It has shown remarkable growth, with its revenue soaring by 94% to INR 13.57 crore in FY23, up from INR 7 crore in FY22.
It competes with other brands like Third Wave Coffee, Blue Tokai, and Rage Coffee.
