Third Wave Coffee Raises Rs 408 Crore in Funding to Expand Across India

Third Wave Coffee has raised Rs 408 crore ($43 million) in a funding round led by existing investor WestBridge Capital, comprising both primary and secondary capital. Creagis and other angel investors also participated in the round. The funding comes as the coffee and food QSR company plans to accelerate its expansion across India and scale its newer dessert business.

The company said the fresh capital will be deployed towards increasing its presence in existing markets, adding store density in high-potential cities and expanding its reach across different consumer occasions. A portion of the investment will also support Third Rush Desserts, the dessert-focused segment introduced by the company earlier this year.

Third Wave Coffee currently operates more than 240 cafés across India and plans to reach 320 cafés by the end of the fiscal year. The company has expanded into Ahmedabad, Mangalore and Agra over the past year, while adding store presence across Delhi NCR, Hyderabad, Chennai, Mumbai and Pune. In June 2026, it entered East India with three outlets in Kolkata and is assessing further opportunities in Guwahati, Ranchi, Patna and Bhubaneswar.

“Third Wave Coffee has reached an important point in its journey. We currently operate more than 240 cafés across India and are aiming to reach 320 cafes by fiscal end. By next month, we will be entering 8 new geographies. Over the years, we have built a strong consumer proposition, and our focus remains on scaling the business sustainably, with strong unit economics, healthy store payback economics, operational discipline and a consistent customer experience. This fundraise will help us accelerate our expansion across the country while strengthening new categories, with desserts being an important part of the journey. Our vision to add 100 new cafes every year; reflects the significant opportunity we see ahead,” said Rajat Luthra, CEO, Third Wave Coffee.

The company is also broadening its food and beverage portfolio beyond coffee through Third Rush Desserts, signature non-coffee beverages, all-day menus, seasonal and festive limited-time offerings, breakfast and savoury products, and other occasion-focused formats.

WestBridge Capital has been an existing investor in Third Wave Coffee and previously led the company's $21 million Series B funding round in 2022, following its $6 million Series A round in 2021.

“Coffee is becoming an increasingly important consumer category in India, and Third Wave Coffee has built a strong position through its relentless focus on quality and execution. Rajat, Anirudh and the entire team have built an exceptional business, and we are excited to continue partnering with them as they scale the brand across the country,” said Sandeep Singhal, Co-founder & Managing Partner, WestBridge Capital.

The latest fundraise gives Third Wave Coffee additional capital to pursue geographic expansion while increasing the contribution of categories beyond its core coffee business.