Third Wave Coffee Secures ₹408 Crore Funding for Expansion
Coffee chain Third Wave Coffee has raised ₹408 crore (approximately $43 million) in a new funding round to fuel its expansion plans and scale its dessert business.
Third Wave Coffee, a quick-service coffee chain, has announced the closure of a funding round totaling ₹408 crore (approximately $43 million). The round was led by existing investor WestBridge Capital and included participation from Creagis and undisclosed angel investors.
The Bangalore-based company intends to utilize the primary capital raised to expand its footprint in existing markets, increase store density in high-potential cities, and scale its recently launched dessert segment, Third Rush Desserts. The chain currently operates over 240 cafes across India and aims to reach 320 outlets by the end of the current financial year.
Further expansion efforts include entering eight new geographies by September. Third Wave Coffee CEO Rajat Luthra stated, "Our vision to add 100 new cafes every year reflects the significant opportunity we see ahead." The company has recently expanded into Ahmedabad, Mangalore, and Agra, while strengthening its presence in major metropolitan areas.
With this latest funding, Third Wave Coffee has raised a total of approximately $105 million to date. The company competes in India's growing coffee market against domestic players like Blue Tokai and international brands such as Starbucks. The Indian specialty coffee market is projected for substantial growth in the coming years.