Teamonk Raises INR 3.5 Crore In Pre-Series A Funding, Led By Inflection Point Ventures The fund will be utilised for the brand's domestic penetration and exploring uncharted territories in international markets

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Teamonk, a D2C tea brand that offers more than 50 variants of premium tea, has raised INR 3.5 crore in pre-Series A funding round, led by Inflection Point Ventures (IPV). This is IPV's second round of investment in Teamonk. The fund raised will be used for the brand's domestic penetration and exploring more regions of international markets.

"Covid has further heightened the need for wellness and immunity across socio-economic groups globally. We are delighted to fulfil this need through our range of 100 per cent pure and natural teas," said Ashok Mittal, managing director, Teamonk.

Teamonk is currently distributing in countries such as US, UK, UAE, Canada, Germany, Australia and India. The brand has launched a wide range of green teas with ayurvedic ingredients during Covid. Teamonk has accomplished contracts with tea plantations that can produce according to the company's quality standards to deliver wide range of teas, claimed the brand in a statement.

"Teamonk has more than 64 tea variants and innovative production capabilities. Consumers are also willing to spend for an authentic cup of tea. IPV continues to support them in their endeavour to provide the best to tea consumers not only in India but also in the global market," said Vinay Bansal, founder and CEO, IPV.

Founded in April 2017 by Ashok Mittal and Amit Dutta, Teamonk is a wellness D2C brand, envisioned accomplishing the concept of fresh-from-gardens to the consumer within a compressed timeframe.

As per the reports, the global tea market size is estimated to reach $68,950 million by 2027 with a CAGR of 6.6 per cent from 2020 to 2027. The consumption volume of tea in India was approximately 1.1 billion kilograms in FY21.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

News and Trends

Kaynes Semicon To Invest INR 4,000 Crore On OSAT/ATMP

The investment is expected to create around 1,000-plus jobs

Leadership

International Security Firm Welcomes Female India Native to an Essential Leadership Position

Yasmin Brar has been appointed as the Operations Strategy Director, a role that underscores the company's commitment to innovation, expansion, and strategic management

Growing a Business

Expand Your Knowledge and Unlock Success With These Must-Read Business Books

Top business books to ignite your entrepreneurial journey.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Entrepreneurs

The Satellite Heroes

Awais Ahmed and Kshitij Khandelwal launched Pixxel in 2019 to build a global space data startup out of India and lead India's private space exploration journey

Business News

Airbnb Renter Discovers Hidden Door, Says Police Confirm There's a Secret Unit Upstairs With 'Surveillance': 'A Terrifying Experience'

One bride-to-be was in for a not-so-welcome surprise when she discovered a secret door in her Airbnb rental.