TeaMonk, a Bangalore based premium tea brand that offers more than 50 varieties of premium team, has now secured INR 6.5 crore in a Pre Series A funding round backed by the angel investment platform Inflection Point Ventures with participation from the Lead Angels and Sarcha Ventures.
Ashok Mittal, Managing Director, TeaMonk said, “We are delighted to partner with IPV towards our vision of building a “sourced in India” international speciality tea brand. During the pandemic, we have seen a marked increase in consumer preferences towards healthier beverages like green tea. We have seized this opportunity to launch a range of green tea variants focused on immunity and wellness. This includes Kadha green tea, Spice green tea, and Ashwagandha green tea. There has been a terrific consumer response to these introductions.”
Vinay Bansal, Founder and CEO, IPV said, “Tea is a socially connecting beverage. India is one of the largest consumers and exporters of tea in the world. TeaMonk presents us with a large market opportunity in premium green tea where few players are growing fast. We see the premium green tea market exploding in the next three years as more people choose high immunity tea that tastes great, for maintaining their overall health. The large market opportunity internationally and relevance of tea in Indian narrative has prompted us to lead the round in TeaMonk.”
