BEENEXT led the $1.2 million seed round for specialty coffee brand First Coffee.
Other investors in the round included Ashish Gupta (Helion Venture Partners), AngelList India, Dr. Ritesh Malik (founder, Innov8), Sahil Malik (founder, Da Milano), Chandini Purnesh (Owner, Harley Coffee Estate), Aman Bahel (Apex Group), Nakul Dev Chawla (Art Mumbai), Aman Arora (co-Founder, Board – Keventers), and Dr. Shriram Nene.
According to a press release from the company, the money raised will be utilized to further expand the business and offer its superior specialty coffee experience in more places around the nation. First Coffee wants to increase its store count in major cities in North India’s tier I cities as well as New Delhi and the National Capital Region.
First Coffee’s primary focus will be on small format QSR locations in busy locations like shopping centers, corporate parks, main streets, and metro areas. The company is set to open 35 stores across the country by the second quarter of next fiscal year. The money raised will also go toward expanding marketing initiatives and hiring new staff.
First Coffee, which was founded in 2024 by Sohrab Sitaram and Shiv Dhawan, blends premium coffee with design, culture, and a novel customer experience. It combines AI-powered analysis with real-world big data to create a technologically advanced retail model.
First Coffee asserts that its coffee is sourced sustainably while maintaining a high standard of quality by employing shade-grown coffee and environmentally friendly techniques like artificial lakes for irrigation and conventional bug traps.
The Indian coffee market is expected to grow at a 9.87% CAGR from 2024 to 2033, and reach $1227.47 million by 2032, according to Customer Market Insights.
