Third Wave Coffee, backed by Nikhil Kamath, raises $35 million from Creaegis; more here

Third Wave Coffee, a quick-service coffee and food business, has secured $35 million in a Series C round of investment that was spearheaded by Creaegis. Existing investors such as WestBridge Capital and angel investors also took part in the round.

The business said it will use the funds for investments in technology, supply chain improvements, and national growth.

Third Wave Coffee co-founder and CEO Sushant Goel stated, “We are thrilled to have Creaegis lead our Series C fundraise with participation from our existing investor Westbridge Capital and angel investors like Sujeet Kumar.”

Goel said, “We think that the coffee-first QSR sector is one of the nation’s fastest-growing consumer segments. Over the last year, we have more than doubled in size and carefully increased our reach throughout the country. To create a better café experience throughout the nation, we will continue to double down on technological and product innovation in the future.

The firm, which was founded in 2017, says it has over 100 locations. Major Indian cities including Bangalore, Mumbai, Delhi, Gurgaon, Pune, Hyderabad, Noida, Coonoor, and Chandigarh all have Third Wave Coffee locations. Over 100 cafés are part of the brand’s network.

As a response to the ambitions of the nation, Third Wave Coffee is quickly becoming one of India’s most cherished brands. Using a digital-first strategy to create an iconic Indian brand, we are thrilled to help the management team in their next phase of development, said Creaegis managing partner and CEO Prakash Parthasarathy and partner Nitish Bandi in a statement.

Along with involvement from renowned angel investors, WestBridge Capital led a $21 million Series B investment in the business in May of last year.