Indian instant coffee brand Rage Coffee has raised $5m in a funding round led by Sixth Sense Ventures
.png.aspx?lang=en-GB)
Rage Coffee manufactures, markets and distributes retail packaged coffee | Photo credit: Rage Coffee
Indian online instant coffee retailer Rage Coffee has raised $5m in a funding round led by Sixth Sense Ventures.
The funding will reportedly be used to scale production, launch new products, expand online presence and offline footprint, and for marketing, distribution and hiring.
Founded in 2018, Rage Coffee manufactures, markets and distributes retail packaged coffee products via its website, online marketplaces and over 1,000 offline touch points.
“With increasing adoption of the café culture and changing consumer preferences within hot beverages (in favour of coffee), our sense is that the segment will witness a strong increase in penetration,” said Nikhil Vora, CEO and founder of Sixth Sense Ventures.
“We believe Rage Coffee is extremely well-positioned to resonate with these new age consumers and create a strong brand affinity for its products," added Vora.
Sixth Sense Ventures, founded in 2014, is a Mumbai-based venture capital firm with investments in a range of industries across India, including food and beverage, logistics and healthcare.
The company’s latest investment highlights growing demand for retail packaged coffee products worldwide, as global pandemic café closures and lockdowns have driven consumers to explore premium at-home coffee experiences.
In August 2021, US-based Kitu Life raised substantial investment ($106m) to grow its Super Coffee RTD brand. In October 2020, Netherlands-based JDE Peet’s announced it would increase coffee pod production by 60% to meet rising global demand.