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Mumbai's Subko Coffee Brews Up Rs 85 Crore in Series B Funding

Subko Coffee, a rising star in the Indian specialty coffee scene, has secured Rs 85 crore ($10 million) in a Series B funding round. This fresh infusion of capital will fuel the company's growth plans as it competes with established brands like Third Wave Coffee and Blue Tokai.

The round was led by NKSquared, an investment firm backed by the founders of Zerodha, Nikhil and Nikhil Kamath. NKSquared contributed a significant portion of Rs 70 crore, acquiring a 25% stake in Subko Coffee. This investment values the Mumbai-based startup at a post-money valuation of approximately $35-40 million.

With this new funding, Subko Coffee is poised for significant expansion. The company plans to leverage the capital to strengthen its market position, enhance its product offerings, and expand its physical footprint across India. The company also distributes coffee internationally, reaching consumers in the UK, US, and UAE.

Founded in March 2020, Subko Coffee has demonstrated impressive growth in a short period. The company's revenue skyrocketed 94% to Rs 13.57 crore in FY23, compared to Rs 7 crore in FY22. However, it's worth noting that Subko Coffee also reported a loss of Rs 9.86 crore during the same period.

Existing investors also participated in the round through a rights issue. Notable names included Pallavi Dempo, Supradh S Manohar, John Abraham, Kalpathi Ratna, and Suparna Gupta. Venture capital firms Blume Ventures and Progressive Strategies LLP also chipped in with Rs 4.75 lakh.



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