Beanly beverages raises undisclosed seed funding from Angel Investors
- ByStartupStory | November 24, 2022
Coffee startup Beanly Beverages Private Limited has claimed to have raised an unrevealed sum in seed funding from BW Businessworld and exchange4Media Group chairman Dr. Anurag Batra. Founders at Sirona Hygiene Deep Bajaj and Mohit Bajaj, and startup investors Rohit Jain, Vikash Chowdhury, and Abhishek Ravi respectively also participated in the funding round. Beanly Beverages, founded by Rahul Jain and Samayesh Khanna, the startup coffee brand plans to utilize the investment to expand manufacturing, operations, and retail presence in digital as well as all retail formats. The startup is likely to raise more capital in the first quarter of 2023 to scale up its operations and marketing.
A joint statement issued by Rahul Jain and Samayesh Khanna read, “We have white labeled our products for several coffee players over the last three years and watched the freshly brewed category develop immensely”. Beanly Beverages is an unlisted private company incorporated on January 6, 2021. It is classified as a private limited company, and its authorized share capital is ₹2.00 cr, and the total paid-up capital is ₹1.00 lakh.
As coffee consumption is increasing rapidly across India, coffee-focused startups have started gaining traction in markets. While major players like Café Coffee Roasters continue to dominate India’s coffee market, several startup brands are now emerging in various parts of the country with their direct-to-consumer (D2C) marketing.
In September this year, D2C startup Toffee Coffee Roasters raised seed funding of ₹1 crore from the Indian Angel Network (IAN). The funding round was led by IAN Lead Investors Hari Balasubramanian, Uday Chatterjee, and Rajeev Sarda. Meanwhile, it is learned that Delhi-based Blue Tokai Coffee Roasters is in talks with several private investors to raise $12- $15 million (₹97 crore-₹121 crore) in a fresh round of equity funding. Of late, the space has witnessed quite a few deals. Early-stage consumer-focused venture capital investors Fireside Ventures and Alteria Capital are backing Slay Coffee, while Sixth Sense Ventures is promoting the emerging brand Rage Coffee.
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