India’s abCoffee secures $3.4m in Series A funding

The small-format coffee chain will use the investment to strengthen its supply chain and digital infrastructure as it seeks to reach 150 stores by the end of 2024

abCoffee CEO Abhijeet Anand | Photo credit: abCoffee

Small-format Indian coffee chain abCoffee has secured $3.4m in a Series A funding round led by Nexus Venture Partners and Tanglin Venture Partners. 

 

Mumbai-based abCoffee will use the new capital to strengthen its supply chain and digital infrastructure, which in turn will support the further roll-out of its quick-service, on-the-go concept. 

Founded in 2022, abCoffee sources its coffee beans from farms in Chikmagalur, Karnataka. The coffee chain currently operates 27 small-format stores across Mumbai and Delhi NCR.

In February 2024, the value-focused operator announced ambitious plans to reach 50 outlets by April 2024 and 150 stores by the end of the year.   

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“We are thrilled to partner with Nexus Venture Partners and receive continued support from Tanglin Ventures in our mission to make specialty coffee accessible and enjoyable for everyone in India. We continue to remain extremely capital efficient, leverage supply chain optimisation and continue to innovate new products for the masses,” said Abhijeet Anand, CEO, abCoffee. 

The Series A funding round comes just six months after abCoffee raised $2m in seed funding to accelerate outlet expansion and scale its product range.

The investment is expected to triple abCoffee’s valuation to approximately $15m, according to local news outlets.