The Mumbai-based gourmet coffee chain’s post-money valuation is now around $34 million.
Subko, a specialty coffee brand, raised $10 million in a funding round led by Zerodha’s Nikhil Kamath. Blume Founders Fund, The Gauri Khan Family Trust, Priya and John Abraham, Sangita Jindal, and others took part in the round.
The post-money valuation for the Mumbai-based business is currently about $34 million. According to the company, the funds will be used to hire new employees, create flagship locations, expand product and design R&D, and launch “ready-to-drink” coffee items.
Rahul Reddy Subko CEO said, “Nikhil’s participation is not just an investment but a testament to our brand’s potential. His genuine desire to enable the growth of homegrown Indian brands and ability to intertwine complex value judgments in consumer markets aligns perfectly with our mission. I am also deeply grateful to all the investors as well who have supported us before Nikhil’s arrival on board.”
Subko’s largest financing comes as numerous venture capital (VC) companies prepare to invest in consumer brands.NIC Ice Cream Maker, Walko Food, AbCoffee, and Wow! Momo and others have raised funds in the past three months, and more are coming.
Kamath has a diverse investment portfolio, including Third Wave Coffee, a competitor of Subko.
“It is paramount that a distinctive Indian brand like Subko leads the way in delivering our unique, curated experiences to the world. My journey with Subko, transitioning from a customer to an investor, has given me unique insights into the brand’s evolution and potential,” Kamath said.
