Instant coffee brand Rage Coffee has raised $5 million of growth capital as part of its Series A funding round led by Sixth Sense Ventures.
It manufactures, markets, and distributes innovative coffee products globally.
Founded in 2018 by Bharat Sethi, the vitamins-enriched coffee products are retailed through their own website, all leading online platforms, and 1000+ offline touchpoints through a network of distributors.
“We are excited to work with Sixth Sense Ventures - veteran FMCG investors, through this round of funding. Therefore, we plan to double down on our efforts across all the channels. We are successfully building a truly omni-channel FMCG brand, with distribution strategies being implemented for the first time, given our digital DNA. In fact, our D2C channel has grown 10x during the pandemic,” said Sethi.
With this round of funding, they are set on fulfilling global demand as well with distributor partners in US, Europe & GCC markets already working with them.
It is also planning to expand its online presence and offline footprint pan-India and will utilize the fresh capital for marketing and distribution purposes. Rage Coffee will also use the funds to scale production, launch innovative new products and add senior management talent.
“We are thrilled to partner with RAGE Coffee in their journey! The company’s vision is perfectly aligned with our philosophy here at Sixth Sense – a disruptive product (flavoured instant coffee), developed by a maverick founder, with a vision to disrupt a large category (INR7000cr+ segment in India),” added Nikhil Vora, CEO and Founder of Sixth Sense Ventures.
The ~INR7000cr Indian packaged coffee segment is dominated by incumbents with two players - Nestle and HUL (Nescafe &Bru) - controlling over 65% market share of the industry. Given the lack of innovation in the space, Rage is well-positioned to be the brand of choice for the next generation of coffee consumers. Rage is disrupting the core instant coffee segment by launching flavored instant coffee (Mocha mint, Irish hazelnut, Dark chocolate, etc ) along with products such as roast coffee, and cold brew coffee bags.
