DropKaffe Wakes Up to $500,000 Bridge Round
OLA Capillary Technologies CommonFloor Flipkart Ather Energy ClearTax DISCLAIMER: Universe includes funded startups only Pertains to only startups which primarily operates in the online space Mohit Saxena is also one of the cofounders of InMobi. He is a B-Tech graduate from IIT Roorkee Bengaluru: Ready-to-drink dairy beverage maker DropKaffe has raised a bridge round of $500,000 (.`3.33 crore) led by Kanwaljit Singh of Fireside Ventures.
Other investors in the round include GrowthStory, and High Networth Individuals including Apurva Salarpuria of Salarpuria Group, CEO of Naukri Hitesh Oberoi, and Nirupa Shankar of Brigade Group.
The one-year-old firm manufactures its line of cold coffees and bottled dairy beverages including milkshakes and markets them across 100plus modern-trade stores in Bengaluru including More, Foodhall, Godrej Nature’s Basket and others.
Backed by Valley-based P39 Capital and other angels in its previous funding round in 2015, DropKaffe has InMobi ShopClues partnered with National Dairy Research Institute for its new line of fruit-based smoothies which have a shelf-life of 30 days and does not contain preservatives. “We have our own brewing techniques and make sure that bean-tobottle takes a week and all our product lines are preservative free,” said Chaitanya Chitta, cofounder at DropKaffe.
The DropKaffe has established a unit with potential to produce 20,000 units per day at the cost of .₹ 25 lakh.
The focus has shifted from fizzy drinks in the India markets to innovative products.
Last year, Paper Boat manufacturer Hector Beverages was valued at $100 million by Advent Management and Hillhouse Capital. Sequoia invested $4.5 million in bottled juice company RAW Pressery in February this year.
Sumit Jain & Lalit Mangal STARTUP FOUNDERS Bhavish Aggarwal & Ankit Bhati Aneesh Reddy, Ajay Modani & Krishna Mehra Sachin Bansal & Binny Bansal Archit Gupta & Anupam Mediratta TOP STARTUPS Tarun Mehta and Swapnil Jain FOUNDERS Naveen Tewari, Abhay Singhal & Amit Gupta Sanjay Sethi