Subko, a specialty coffee roaster and craft bakehouse based in Mumbai, has raised USD 10 million in a fundraising round led by Zerodha co-founder Nikhil Kamath at a valuation of approximately USD 34 million.
The funding round was backed by the Blume Founders Fund, The Gauri Khan Family Trust, Priya and John Abraham, Sangita Jindal, Srinivas and Pallavi Dempo, and The Mehta International Mauritius Limited Group, a statement said.
The Mumbai-based startup’s post-money valuation now stands at around $34 million. The funds will be used to enhance the talent pool, develop tech-enabled customer experiences, bolster product and design research and development, and launch ready-to-drink coffee products, it said, the company has said.
“Nikhil’s participation is not just an investment but a testament to our brand’s potential. His genuine desire to enable the growth of homegrown Indian brands and ability to intertwine complex value judgments in consumer markets aligns perfectly with our mission. I am also deeply grateful to all the investors as well who have supported us before Nikhil’s arrival on board,” Subko CEO Rahul Reddy said.
Kamath is additionally an investor in Third Wave Coffee, a competitor of Subko, and boasts a diverse investment portfolio encompassing companies across multiple sectors.
“It is paramount that a distinctive Indian brand like Subko leads the way in delivering our unique, curated experiences to the world. My journey with Subko, transitioning from a customer to an investor, has given me unique insights into the brand’s evolution and potential,” Kamath said.
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