Shark Tank India-featured Premium coffee brand Toffee Coffee Roasters has raised Rs 5 crore in pre-series A round led by Inflection Point Ventures, a Gurugram-based angel investment platform.
The round also saw participation from 66 bridge partners, Abhijit Vemuganti and Invesst as well.
The startup will utilize close to 60% of the funds as working capital for the fast-expanding operations of the company. Of the remaining funds approximately 10-15% is planned to be invested in enhancing and expanding the backend roastery. Another 10%, to be used for improving packaging quality and the rest 10-15% of the capital will be dedicated to new product development, the release notes.
Founded in 2019 by Rishabh Nigam and Nandini Shrivastava, Toffee Coffee Roasters focuses on sourcing, roasting, and blending some of the finest coffees from around the world. The brand said has a lean supply chain, cutting middlemen to ensure better quality at the right price for the customer.Shark Tank India-featured premium coffee brand Toffee Coffee Roasters raises Rs 5 crore in funding
