Restaurant India News: Toffee Coffee Roasters Raises Pre-Series A Round Led by IPV

Specialty coffee brand Toffee Coffee Roasters has raised ₹5 crore in a pre-Series A funding round led by IPV, with participation from 66 Bridge Partners, Abhijit Vemuganti, and Invesst. The company, which was earlier featured on Shark Tank India and backed by Ritesh Agarwal, announced the development.

The funds will be used to expand operations, upgrade and scale its roastery, improve packaging quality, and develop new products as the brand continues to grow its portfolio.

Founded in 2019 by Rishabh Nigam and Nandini Shrivastava, Toffee Coffee Roasters began as a specialty café in Mumbai. During the 2020 lockdown, it shifted to delivering freshly roasted coffee across Mumbai and later nationwide. The brand now serves more than two lakh customers through online marketplaces, its website, and quick-commerce channels, operating from a 10,000 sq ft roastery where it sources, processes, and roasts coffee in-house.

The company says it produces over 5 tonnes of coffee each month and sells more than 40,000 units monthly equivalent to 3–4 lakh cups brewed at homes across India. It aims to scale production to 50 tonnes a month, which would support monthly revenues of ₹8–10 crore and reach 8–10 lakh customers. Toffee Coffee Roasters currently estimates its market share in India’s coffee segment at 1–2%.

Market reports place the global coffee market at $150–200 billion, while India’s market is valued at around $2 billion with a strong growth rate of over 20%.