India is renowned for its best quality tea. With growing consumption and demand from consumers worldwide, investors are actively funding tea companies. A similar investment was bagged by Delhi-based online tea brand Vahdam Teas who secured INR 75 Cr ($10.5 million) from its Series C funding round.
Reportedly, the funding round was led by consumer fund Sixth Sense Ventures. Moreover, it witnessed an active participation from various investors, HNIs and family offices, including Infosys founder Kris Gopalkrishnan, Mankind Group Family office, Pankaj Chaddah Zomato Co-founder, SAR Group Family office and Urmin Group family office and more.
Sources cite that Vahdam Teas plans to grow its presence in Europe and the USA, and will also launch new products in South Asia, India and UAE markets.
Speaking on the move, Bala Sarda, CEO and Founder, Vahdam Teas, said that the company plans to use these funds to heavily invest in research and development, penetrate major markets, enter new markets globally and launch innovative products, while strengthening its management team.
As for Nikhil Vora, CEO & Founder, Sixth Sense Ventures, Vahdam has set an example of how a traditional business like tea can get disrupted. He said that their firm is impressed with the way Bala Sardar has sought to aim global markets first, creating a brand as well as a market innovative ethnic Indian tea flavours.
Reportedly, the company has also previously come out with an aggressive plan which consists of rolling out an exclusive range of single-estate teas and gourmet in house duty free outlets at various airports.
According to reports, Vahdam Teas offers products at airports such as Chhatrapati Shivaji International Airport in Mumbai, Indira Gandhi International airport in Delhi, Chennai International Airport, the Dabolim International Airport in Goa and the Rajiv Gandhi International Airport in Hyderabad.
The company also intends to offer its product in the country’s modern general and retail trade outlets spread across different parts of the country.