Bengaluru-based coffee retail chain Third Wave Coffee has secured nearly $43 million (Rs 408 crore) in a fresh funding round led by existing backer WestBridge Capital, Mint reported.
The round was largely structured as a primary capital infusion, along with a small secondary component. The funding also saw participation from existing investor Creaegis and a group of angel investors.
The latest fundraise takes Third Wave Coffee’s cumulative funding to over $105 million.
According to the report, Third Wave Coffee is now valued at approximately $210 million (Rs 2,000 crore), up from around $150 million (Rs 1,200 crore) at the time of its previous funding round.
The coffee chain had raised $35 million in its Series C funding round led by homegrown private equity firm Creaegis in September 2023. Westbridge Capital and angel investors like Sujeet Kumar also participated in the round.
Founded in 2017 by Ayush Bathwal, Anirudh Sharma, and Sushant Goel, Third Wave Coffee has expanded its footprint to more than 220 cafes across India. The chain has a presence in key markets including Bengaluru, Delhi, Pune, Mumbai, and Hyderabad, among other cities.
The latest fundraise comes as Third Wave Coffee seeks to strengthen its position in India’s growing organised coffee and quick-service restaurant market while continuing to expand its cafe network and adjacent food offerings.
