First Coffee Bags $1.2 Mn Funding From BEENEXT To Scale Up Store Network

Quick-service restaurant (QSR) chain First Coffee has raised $1.2 Mn (over INR 10 Cr) in a seed round led by early stage investment firm BEENEXT.

The round also saw participation from investors Ashish Gupta of Helion Venture Partners, AngelList India, Innov8 Capital’s founder Ritesh Malik, Da Milano’s Sahil Malik, et al.

The company will deploy the capital to drive the company’s expansion and expand its outlets to more locations across the country. The funds will also be used for hiring and amplifying marketing efforts.

In a statement, First Coffee said it would strengthen its store presence in key urban areas across the Delhi NCR region and Tier I cities in North India by opening 35 stores by the second quarter of next fiscal year.

Founded in 2023 by Sohrab Sitaram and Shiv Dhawan, First Coffee is a specialty coffee brand that opened its first outlet in Delhi NCR in April 2024. The company claims to source its coffee beans from Harley Coffee Estate in Chikmagalur, Karnataka.

“Our grab-and-go model, combined with a focus on sustainability and tech-driven customer engagement, is enabling us to carve a strong niche. Our current four stores have seen 25% month-on-month growth,” Sitaram said.

The development comes at a time when coffee chains have been grabbing investors’ attention. A few weeks ago, Blue Tokai Coffee Roasters raised $35 Mn (about INR 293 Cr) in its Series C funding round led by Belgian investment firm Verlinvest.

Meanwhile, listed FMCG company GRM Overseas acquired a 44% stake in Rage Coffee in a mix of primary capital infusion and secondary purchase of shares, without disclosing the financial terms of the deal.

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