Third Wave Coffee Secures $35M in Series C Round Led by Creaegis and Joined by WestBridge Capital

Third Wave Coffee, a fast-casual coffee and dining chain, has successfully secured $35 million in a Series C funding round, with Creaegis taking the lead and existing investors also contributing.

The company plans to utilize this capital for nationwide expansion, strengthening its supply chain, improving its operational capabilities, and making strategic investments in technology.

"We are thrilled to have Creaegis lead our Series C fundraise with participation from our existing investor Westbridge Capital and angel investors like SujeetKumar . We believe that the coffee-first QSR industry is one of the fastest growing consumer categories in the country. We have grown 5x through the last year and strategically expanded our footprint across the nation. Going forward, we will continue to double down on technology and product innovation to deliver a superior cafe experience across the country.” said, SushantGoel, Co-founder, and CEO.

Incorporated in 2017 by Ayush Bathwal, Anirudh Sharma, and Sushant Goel, the company has seen substantial growth, now operating a network of over 100 stores in tandem with India's booming coffee and food sector.

“Third Wave Coffee is emerging as one of India’s most loved brands, answering to the country’s aspirations. We are excited to support the management team in their next phase of growth, using a digital first approach to build an iconic Indian company.” said, Prakash Parthasarathy, Managing Partner & CEO and NitishBandi, Partner, Creaegis.

In May 2022, WestBridge Capital took the lead in a $21 million Series B funding round for the company, with participation from prominent angel investors.

"We have been quite impressed with the tremendous traction and customer love that Third Wave Coffee has generated across major cities in India.  We are excited to strengthen our partnership with the company and work towards scaling both the footprint and customer experience manifold." said, Sandeep Singhal, Managing Partner, WestBridge Capital.

Third Wave Coffee has established its presence in numerous key Indian urban centers, encompassing Bangalore, Mumbai, Delhi, Gurgaon, Pune, Hyderabad, Noida, Coonoor, and Chandigarh.

The brand has a network of over 100 cafes and recently celebrated its seventh anniversary.