Ahmedabad-based specialty tea startup The Kettlery has raised seed funding from shooter and investor Abhinav Bindra’s fund Shooting Star Sports LLP and Franchise India Brands.
CPK Food and Beverages Pvt. Ltd, which runs The Kettlery, received $1 million (Rs 6.71 crore) in the seed round, Sandeep Kotecha, founder, The Kettlery, told Techcircle.in.
The development was first reported by The Economic Times.
Kotecha, who launched the startup in April last year, told Techcircle.in that the amount will be used for expansion and marketing campaigns.
The Kettlery, which sells a variety of tea blends and accessories, operates in both online and offline formats. Currently, it has one outlet in Ahmedabad and plans to open one more in Mumbai next month.
Kotecha said, “We plan to open around 100 stores in five years.”
Abhinav Bindra and Franchise India Brands could not be contacted immediately.
India, which hosts coffee chains like Bengaluru-based Café Coffee Day and US-based Starbucks, among others, has recently seen a lot of action in the tea space too.
Earlier this month, on demand tea-ordering startup Chai Point raised $10 million (Rs 67 crore) from Eight Roads Ventures.
Last year, tea chain brand Chaayos raised $5 million (Rs 33.5 crore) from Tiger Global. Bhavish Aggarwal and Ankit Bhati, co-founders of Tiger Global-backed cab aggregator Ola, also participated in the round.
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