Chelvies is the latest Indian specialty coffee start-up to attract investment and will use its Endurance Capital-led funding round to scale from six stores to 30 over the next 12 months
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The interior of Chelvies Punjabi Bagh outlet in Delhi NCR | Photo credit: Chelvies/Facebook
Indian specialty coffee and all-day dining chain Chelvies Coffee has raised $1m in a pre-Series A funding round led by Endurance Capital, with an additional $500,000 in debt financing currently under process.
Chelvies, which sources coffee from the Ratnagiri and Mandalkhan estates in Baba Budangiri, Chikmagaluru, opened its first store in 2023 and currently operates six outlets across Ahmedabad and Delhi NCR. The business, which is seeking to create a farm to cup coffee brand which ‘resonates with the cultural fabric of India’, will use the investment to scale its footprint to 30 outlets by 2026, primarily focusing on high street locations across India’s major metro cities.
The Noida-based specialty coffee and all-day dining chain will also use funding to improve its supply chain infrastructure, strengthen its operational teams and develop food production capabilities. Alongside extensive specialty coffee and bakery ranges, Chelvies also offers an all-day dining menu of burgers, artisanal sandwiches, pizza and sharing platters prepared in-store and sells wholebean packaged specialty coffee on its website.
“Since our launch, we have rigorously tested and perfected our concept through our presence in Delhi NCR and Ahmedabad, refining every aspect of the customer experience. This funding comes right at a time when we are all set to scale aggressively and bring our unique offering to key markets across India,” said Dhruv Singh, Founder and CEO, Chelvies Coffee.
Investment in Indian coffee businesses has accelerated over the last 12 months, with fellow start-ups abCoffee, First Coffee and Fast Coffee all raising funds to scale their operations, establish new sales channels and enter new domestic markets.
Additionally, more established brands such as Blue Tokai Coffee Roasters, Third Wave Coffee and Subko Coffee Roasters continue to attract new investment to increase their market share and scale their direct-to-consumer sales channels.