D2C brand TeaMonk raises Rs 3.5 Cr led by Inflection Point Ventures

• ByStartupStory     |    April 28, 2022

Inflection Point Ventures led a pre-series A round of fundraising for premium tea brand Teamonk, which raised Rs 3.5 crore. The cash raised will be used to expand the company’s business in both the domestic and international markets.

TeaMonk, a D2C firm founded by Ashok Mittal and Amit Dutta in 2017, offers more than 50 premium tea varieties. It has operations in the United States, the United Kingdom, the United Arab Emirates, Canada, Germany, Australia, and India.

“Covid has further heightened the desire for wellness and immunity across socio-economic levels internationally,” stated Ashok Mittal, Managing Director of TeaMonk. We’re thrilled to be able to meet this demand with our line of 100 percent natural, delicious-tasting teas.”

The global specialty tea market is estimated to be around $5.8 billion, with India’s market at around $500 million and increasing at a 30% CAGR. By volume, specialty teas represent 3% of tea consumption in India, but they generate roughly 18% of revenue.

“TeaMonk, with their great product curation and creative ability, has over 64 specialty tea varieties and has generated exactly what is needed in the industry,” said Vinay Bansal, Founder & CEO, of Inflection Point Ventures. The brand is poised to become a market leader in specialty tea.”

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