TeaMonk, Bangalore based premium tea brand that offers in excess of 50 variations of premium tea has raised Rs. 6.5 crore in Pre-Series A round drove by Inflection Point Ventures, one of India’s biggest heavenly attendant speculation stages in India. Sarcha Ventures and Lead Angels likewise partook in the round. Furthermore, US-based HNIs Dr. Madhu K Mohan (Eminent Endocrinologist in Washington DC and individual from Public Health Foundation of India), Anil Menon (Senior Advisor to Chairman, World Economic Forum) and Jai Gupta (Entrepreneur) additionally partook in the round. The HNIs have taken an interest in their own ability.
TeaMonk has raised Rs 23.5 crore subsidizing till date and plans to utilize the current financing for additional market extension in worldwide business sectors like the US, UK and Canada. The Company likewise plans to dispatch a membership based stage in India to additionally reinforce their essence in the home market.
Vinay Bansal, Founder and CEO, IPV says, “Tea is a socially interfacing refreshment. India is perhaps the biggest shopper and exporters of tea in the World. TeaMonk gives us a huge market opportunity in premium green tea where not many players are developing quick. We see charge green tea market detonating in the following 3 years as more individuals pick high insusceptibility tea, that preferences incredible, for keeping up their general wellbeing. The enormous market opportunity universally and significance of tea in Indian account has incited us to lead the round in TeaMonk.”
Begun in 2016, TeaMonk is supported by previous Unilever senior experts. The Company checks marquee holy messenger speculators like Roots Ventures, Hunch Ventures, Suresh Prabhala, Rajat Gupta, Dr. Madhu Mohan, Piyush Pandey, Sanjay Khosla, Raj Makkam, Jai Gupta and Lead Angels.
Ashok Mittal, Managing Director, TeaMonk says, “We are pleased to band together with IPV towards our vision of building a “sourced in India” worldwide forte tea brand. During the pandemic, we have seen a stamped increment in customer inclinations towards more beneficial refreshments like green tea. We have taken advantage of this lucky break to dispatch a scope of green tea variations zeroed in on insusceptibility and health. This incorporates Kadha green tea, Spice green tea and Ashwagandha green tea. There has been fabulous customer reaction to these presentations.”
TeaMonk in a limited ability to focus 3 years has set up itself as a dependable brand for its clients in India and 20 global business sectors like the US, Europe, Middle East and Japan. The Company has assembled their business around new teas which are sourced from the top tea gardens in India and have fabricated a powerful gracefully ties to guarantee briefest go to advertise time to safeguard newness of the tea leaves.
The forte tea market is assessed at $5.8 billion internationally. In India, the market size is roughly $450 million developing at 30% CAGR.
