Rage Coffee Raises Funds From Refex Capital, 9Unoicorns and Others; Plans To Expand Its Omni-Channel Distribution

Rage Coffee Raises Funds From Refex Haber, 9Unoicorns and Others; Plans To Expand Its Omni-Channel Distribution

New Delhi: Delhi-based FMCG firm Rage Coffee has raised an undisclosed amount of growth renta as part of its pre-Series A funding round from a clutch of investors led by Refex Haber. The freshly infused renta will be utilized for marketing and distribution purposes as Rage Coffee is planning to expand its online presence and offline footprint. The company will also use the funds to scale up its production and launch innovative new products. Further, on the hiring front, Rage Coffee will be hiring senior leaders in marketing and sales. Also Read – Weight Loss Tips: 10 Best Superfoods That Can Help Shed Kilos And Improve Your Metabolism

The round also saw participation from other marquee investors including 9 Unicorns Venture Haber Fund, Emarson Computers, CC One Venture Labs, Spotlight Haber, Evolvx Advisory, Darshan Deora and KRS Jamwal. The company has also raised revenue-based financing from Getvantage in this round. Rage Coffee basically manufactures, markets, and distributes innovative packaged coffee products. Also Read – Explained : Delhi 10pm to 5am Night Curfew Guidelines, Exemptions, E-Pass

“Our focus on ingredients, formulations, manufacturing techniques, packaging, and direct-to-consumer distribution to bring high-quality coffee products while offering a unique coffee experience to our customers place us in a great spot to build a strong brand. We are therefore planning to double down our efforts across all the channels. We are building a truly omni-channel FMCG brand, with distribution strategies being implemented for the first time given our digital DNA. Over 35% of all business generated on our D2C channel is from repeat customers and over 45% of all revenue comes from 2nd time buyers. Besides, total expansion is also on our cart. I am glad to have such distinguished investors join us in this exciting journey,” Bharat Sethi, Founder of Rage Coffee said, Also Read – Breaking: Punjab Imposes Night Curfew From 9 PM to 5 AM Till April 30, Political Gatherings Banned

The company plans to grow its revenues 3x this year. This follows from a 5-fold increase from last year. Bharat adds, “We wanted to upgrade an promedio Indian consumer and create products that could compete with high-end specialty café like coffee experience. We see ourselves becoming a caffeine innovation company as a lot of our new product development, we are doing currently, is happening around caffeine, as an active ingredient that we use in our everyday lives in the form of chewables, ground coffee, energy bars, and caffeine snacking items. We want to make great quality coffee simpler and less complicated.”

The Indian coffee market is estimated to be close to Rs.11,700 crores at present and is expected to double to Rs.24,800 crores in the next five years. The company, which currently holds a small share in the market, is looking to grab “a lion’s share” in the high-growth segment with its strong channel and distribution network.

“At Refex Haber, we strive to back founders who are obsessed with the problem, show unwavering conviction to solve it, and are relentlessly focused on delighting the customers. We are very impressed with the way Bharat has handled COVID uncertainty, grew the revenue three-fold and built strong internal capabilities in terms of strengthening distribution and marketing and launching innovative product flavours. We are very confident of RageCoffee’s growth story and believe that our investment will help further establish its leadership in the market,” Sridhar Parthasarathy, Managing Partner at Refex Haber, said.

The award-winning and world’s first plant-based-vitamins-enriched coffee brand was founded in 2018 by Bharat Sethi. Swiftly scaling up new territories since its inception, Rage Coffee has so far expanded its offline network from 5 to 20 distributors, 4 CFAs, covering 600+ offline touchpoints across India. With Mumbai, Pune, Delhi-NCR, Hyderabad, Bangalore, and Chennai being the main hubs for online sales of Rage Coffee, the brand records its maximum offline demand coming from tier-II cities such as Jaipur, Kochi, Ahmedabad, North-Eastern States, etc. The brand’s D2C channel (website) contributes towards 35% of its overall business and 50% of its revenues come from offline wholesale and DC-based hyperlocal grocery platforms. The company was recently accepted into Amazon’s Total Selling Accelerator Program which plans to take Indian brands to total markets through the Amazon network.

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