Swmabhan Commerce Pvt. Ltd, which operates fast-moving consumer goods brand Rage Coffee, has raised funding from a clutch of investors led by early-stage technology startup investor Refex Capital.
Members of angel network Keiretsu Forum's Chennai chapter, Wazir Advisors founder Harminder Sahni and former CavinKare joint managing director TD Mohan also invested in Rage Coffee, the company said in a statement.
Other investors who put in money include former TVS Electronics CEO Prakash Katama, former SonyLIV business head Uday Sodhi, actor Rannvijay Singh Singha, Gemini Paints founder A Kumar and Spero Group of Companies managing director Sawan Gupta.
As part of the transaction, Sahni and Refex managing partner Sridhar Parthasarathi have joined Rage’s board.
The company didn’t disclose the amount it raised. But it said it will use the funds to launch new products, scale up its production, strengthen its team and expand its omnichannel distribution presence.
Rage Coffee founder Bharat Sethi said the company’s approach to supply chain, sourcing, consumer segmentation, product research and development, and a hybrid distribution model will help it build a strong brand.
Sahni said he was confident in his investment because of Rage Coffee’s “unique” approach to blends, flavours, packaging and multichannel distribution.
New Delhi-based Rage Coffee, which was founded in 2018, focusses on emerging coffee categories. The company says its products include a proprietary small-batch crystallised coffee infused with plant-based vitamins. It also sells its coffee products in tube shots for portability and markets and sells merchandise such as clothing and flasks.
Rage Coffee is the latest brand in the FMCG segment to get investor attention, with startups and established firms seeking to appeal to a more brand- and quality-conscious consumer.
For instance, in November last year, non-alcoholic beer maker Coolberg raised $3.5 million (around Rs 25 crore) in a Series A funding round led by Singapore-based family office RB Investments and existing investor India Quotient. In October, whole foods and dairy products startup Credence Whole Foods Pvt. Ltd raised over $1 million (Rs 7.08 crore) from IndoCan Honey Pvt. Ltd.