Subko Receives $10 Million From John Abraham, Gauri Khan, Nikhil Kamath, and Other Parties
In a funding round headed by Nikhil Kamath, co-founder of Zerodha, Mumbai-based Subko, a specialty coffee roaster and handmade bakery, received USD 10 million at a value of about USD 34 million.
According to a release, the fundraising round was supported by the Mehta International Mauritius Limited Group, Priya and John Abraham, Sangita Jindal, Srinivas and Pallavi Dempo, The Blume Founders Fund, and The Gauri Khan Family Trust.
The post-money value of the Mumbai-based business is now about $34 million. According to the firm, the money will be used to expand the pool of talent, create tech-enabled customer experiences, support product and design research and development, and provide ready-to-drink coffee items.
“Nikhil’s involvement is proof of our brand’s potential, not merely an investment. His ability to integrate complicated value judgments in consumer markets and his sincere desire to support the development of indigenous Indian companies are a great fit with our objective. In addition, I want to express my sincere gratitude to all of the investors who helped us before Nikhil joined the team, stated Rahul Reddy, CEO of Subko.
In addition, Kamath has stock in Third Wave Coffee, a rival company to Subko. His investment portfolio is broad, including holdings in businesses in many industries.
“It is crucial that a distinctive Indian brand like Subko sets the standard for providing the globe with our carefully selected, one-of-a-kind experiences. Going from being a client to an investor in Subko has allowed me to get unique insights into the development and future of the company, Kamath added.
