04 April 2019, India:
Premium Tea Brand Teamonk Global has raised $1 million in pre-Series A round of funding. The funding round was led by former McKinsey Chief Rajat Gupta and Roots Ventures.
The company will use the fresh capital to scale up its portfolio of premium teas and targets to reach new geographies.
Teamonk Global has also appointed veteran FMCG professional, Nalin Sood as its Chief Executive Officer (CEO).
Japan Vyas, Founder, Roots Ventures said, “We are pleased to invest in Teamonk, since it is an emerging leader in the curated speciality teas space. We see India is an ‘under beverage’ country – with not many beverage brands and choices. However, with promoters like Ashok and Amit and their years of experience across conglomerates in India and overseas, an interesting ecosystem has been built at Teamonk”
Japan Vyas, added, “This has opened up numerous possibilities in the beverages play with strong overseas market. We look forward to working with them as they go about building the business and the brand.”
Amit Dutta, Co-Founder & Executive Director, Teamonk Global, said, “Teamonk Global aims to reposition tea as an exciting and refreshing beverage, fulfilling the deeper consumer need of ‘Looking Good and Feeling Good’.”
Amit Dutta, added, ” We are very excited with the repeat buying frequency from consumers and their feedback on our product quality being absolutely top notch. We look forward to establishing Teamonk as a global Indian brand.”
Teamonk Global was founded by Ashok Mittal and Amit Dutta in 2016. It sells premium specialty tea.
(Image – Teamonk Global)