Rage Coffee gets funding from GetVantage

New Delhi: Rage Coffee, a direct-to-consumer brand that manufactures and markets coffee products, on Thursday said it has raised growth capital from revenue-based financing platform GetVantage.

The fresh capital will help the New Delhi-based startup to expand its distribution network and achieve a five-fold increase in sales, said Rage Coffee in a statement. It did not disclose the financial details of the transaction.

In January last year, Rage Coffee had raised funding from a clutch of investors led by early-stage technology startup investor Refex. Capital.

Rage Coffee, which is operated by Swmabhan Commerce Pvt Ltd, was founded in 2018 by Bharat Sethi, who had previously launched business-to-business (B2B) eCommerce marketplace iDecorama and online platform for artists and designers PosterGully.

Sethi said that the idea for Rage Coffee was conceived when he was working on a problem to solve the distribution of new-age consumer packaged goods brands in India and found out that the coffee market had huge potential and many unserved gaps.

That is when he decided to focus on ingredients, formulations, manufacturing techniques, packaging, and direct-to-consumer distribution to make a premium quality affordable coffee product, he added. Rage Coffee’s first product is a proprietary small-batch crystallized instant coffee.