New Delhi: Global direct-to-consumer tea brand Teas”>Vahdam Teas has announced raising of USD 1.4 million in Series A funding round led by Fireside Ventures.
The investment capital raised by Teas”>Vahdam Teas, which had earlier this year raised its seed round, stands at USD two million.
The Delhi-based company, which gets 100 percent of its sales online and primarily through its website, has grown seven fold in the last 12 months and plans to use the fresh funds to further focus on marketing, product development, strengthening warehousing and logistics in its key market, the United States of America.
As part of the deal, Kanwaljit Singh of Fireside Ventures will be taking a board seat in the company.
“Over the last two years, we have worked very hard in setting up an efficient supply chain, right from the estates of India to our consumers in USA and other parts of the world, with a sole vision to make available the freshest cup of tea to consumers by leveraging technology. We plan to now further penetrate our key markets with customer acquisition and marketing,” said founder Teas”>Vahdam Teas, Bala Sarda.
The company currently gets 70 percent of its revenue from the US and the remaining 30 percent from over 83 countries across the world.
Teas”>Vahdam Teas is disrupting the supply chain of tea, by making available premium garden fresh to consumers across the world in the shortest periods of time, by leveraging technology, cutting out all unnecessary middlemen and launching innovative packaging formats.
The tea leaves do not travel in containers for months before being packaged and sold. All the contents are procured direct from plantations and tea growers within 24-72 hours of production, packaged and shipped directly from source in India. (ANI)