Third Wave Coffee is raising $80-100 million in a funding round led by existing investors WestBridge Capital and Creaegis, according to livemint.com. The Bengaluru-based café chain, founded in 2017 by Sushant Goel, Ayush Bathwal, and Anirudh Sharma, plans to use the fresh capital to accelerate its expansion while continuing to narrow its losses.
The funding round involves WestBridge Capital and Creaegis deepening their stakes in Third Wave Coffee. Since its inception, the company has grown its footprint through a chain of cafés and diversified its offerings to include coffee beans, cold brew bags, and merchandise. The new infusion of capital comes as the company reports improved financials and a strategic push to scale operations across India.
This round highlights growing investor confidence in the specialty coffee segment, which has seen increased consumer demand and premiumization in recent years. Comparable deals in the food and beverage sector have underscored the potential for café chains to expand rapidly with adequate funding. Third Wave Coffee’s ability to reduce losses while expanding sets it apart in a competitive market that includes both domestic and international players.
Looking ahead, Third Wave Coffee aims to deploy the funds to open new outlets and enhance its product portfolio. The company’s founders and investors are focused on sustaining growth momentum and moving toward profitability. Market watchers will be tracking the chain’s expansion milestones and financial performance in the coming quarters, as it seeks to consolidate its position in India’s evolving coffee market.