Third Wave Coffee Raises INR 408 Cr
Third Wave Coffee raises INR 408 crore in a funding round led by WestBridge Capital to expand cafés and scale its dessert business.
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Third Wave Coffee has raised INR 408 crore (USD 43 million) in a funding round led by existing investor WestBridge Capital. The round included primary and secondary capital, with participation from Creaegis and angel investors.
The funding values the Bengaluru-based coffee chain at around INR 2,000 crore, up from INR 1,200 crore during its previous funding round. The latest round takes its total funding to more than USD 105 million.
Third Wave Coffee will use the capital to expand into new markets, increase store density in existing markets and scale its dessert business, Third Rush Desserts.
The company currently operates more than 240 cafés across India and plans to reach 320 cafés by the end of FY27. It is also preparing to enter eight new geographies, with Ludhiana, Jalandhar, Amritsar and Lucknow among the cities in its expansion pipeline.
“By next month, we will be entering eight new geographies,” said Rajat Luthra, CEO of Third Wave Coffee.
The company has expanded into Ahmedabad, Mangaluru and Agra over the past year and entered eastern India with three cafés in Kolkata in June. It is evaluating further expansion into Guwahati, Ranchi, Patna and Bhubaneswar.
WestBridge previously led Third Wave Coffee’s USD 21 million Series B round in 2022, while Creaegis led its USD 35 million Series C round in 2023.
Third Wave Coffee has raised INR 408 crore (USD 43 million) in a funding round led by existing investor WestBridge Capital. The round included primary and secondary capital, with participation from Creaegis and angel investors.
The funding values the Bengaluru-based coffee chain at around INR 2,000 crore, up from INR 1,200 crore during its previous funding round. The latest round takes its total funding to more than USD 105 million.
Third Wave Coffee will use the capital to expand into new markets, increase store density in existing markets and scale its dessert business, Third Rush Desserts.
The company currently operates more than 240 cafés across India and plans to reach 320 cafés by the end of FY27. It is also preparing to enter eight new geographies, with Ludhiana, Jalandhar, Amritsar and Lucknow among the cities in its expansion pipeline.
“By next month, we will be entering eight new geographies,” said Rajat Luthra, CEO of Third Wave Coffee.
The company has expanded into Ahmedabad, Mangaluru and Agra over the past year and entered eastern India with three cafés in Kolkata in June. It is evaluating further expansion into Guwahati, Ranchi, Patna and Bhubaneswar.
WestBridge previously led Third Wave Coffee’s USD 21 million Series B round in 2022, while Creaegis led its USD 35 million Series C round in 2023.
