DropKaffe Wakes Up to $500,000 Bridge Round

The Economic Times - - Disruption: Startups & Tech - Payal.Gan­guly@ times­group.com

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

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