Mumbai Angels Network sees valuation uptick from premium tea brand Vahdam Teas which recently raised INR 174 Cr as part of its Series D round

 

Having raised a total of INR 290 Cr so far, the premium tea brand has currently been valued at INR 700 Cr, will use the funds to expand distribution across online and offline channels

10, September, 2021: Mumbai Angels Network, a premium startup investment platform for early-stage venture investments, has seen an uptick in valuation for its investors from Vahdam Teas, a leading tea brand that has recently raised INR 174 Cr as part of its Series D funding round led by IIFL AMC’s private equity fund. The brand’s existing investors, including a consortium of Sixth Sense Ventures affiliates, the Mankind group family office, Kris Gopalakrishnan’s (Founder, Infosys), family office, Urmin Group, and White Whale Ventures also took part in the round. With a total of INR 290 Cr raised, Vahdam Teas is currently valued at INR 700 Cr.

Ms. Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network

Speaking on the surge in the valuation, Ms. Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network said, “Vahdam Teas has truly taken Indian origin teas to the global market with its superior quality blends and unique flavours. The brand has created a premium product and expanded its reach to consumers across the world. Besides, they have also been extremely capital efficient and have high potential to grow and scale further. We are delighted that their recent funding round has increased the valuation for us, and we are confident that this capital infusion will enable them to scale their business and further fuel their growth and innovation.”

 Bala Sarda, Co-Founder of Vahdam Teas.

“We are thrilled to have our existing group of marquee investors backing us in our journey with the recent funding increasing the valuation for our investors. The pandemic has accelerated the adoption of e-commerce which has been conducive to our rapid growth. Vahdam Teas has always maintained a sharp focus on high quality and innovation, and we will continue to introduce new flavours in the market while also expanding our footprint in new geographies around the world”, added Bala Sarda, Co-Founder of Vahdam Teas.

A vertically integrated, fully online premium tea brand, Vahdam Teas, the brainchild of Bala Sarda and Nupur Sarda, has been revolutionizing existing traditional supply chains in the tea industry with its innovative, digital-first, and consumer-centric approach. Having clocked over INR 160 Cr in revenue in FY21, the brand will be utilizing the freshly infused funds to expand distribution across online and offline channels, as well as for foraying into new geographies and complementary categories. Sourcing tea and spices directly from farms across India, Vahdam Teas distributes its products across the US, Canada, and Europe, apart from India. The brand now plans to reach a revenue of INR 500 Cr in the next 3 years.

About Mumbai Angels:

Started in 2006, Mumbai Angels Network is India’s premier platform focused on new venture investing. Mumbai Angels today has a 170+ strong portfolio across sectors and cities across India. Of the overall portfolio the platform has exited/ secured the next round of funding for 60 of them. Today the platform has 550+ investors spread across 40+ cities within and outside India.