Bengaluru-based coffee and food QSR brand Third Wave Coffee has raised Rs 408 crore ($43 million) in a funding round led by existing investor WestBridge Capital. Existing investor Creaegis and other angel investors also participated in the round.
The round comprises a mix of primary capital and secondary share sales. The company has not disclosed the split between the two or its valuation following the fundraise.
Third Wave Coffee currently operates more than 240 cafés across India and plans to increase its network to 320 cafés by the end of FY27. The company also aims to enter eight new geographies by September and has a longer-term target of adding around 100 cafés every year.
The company has expanded into markets including Ahmedabad, Mangaluru and Agra over the past year, while strengthening its presence across Delhi-NCR, Hyderabad, Chennai, Mumbai and Pune. In June, it entered eastern India with three cafés in Kolkata and is evaluating further expansion into Guwahati, Ranchi, Patna and Bhubaneswar.
The fresh capital will support expansion in existing markets, entry into new cities and greater store density in high-potential locations.
Alongside its café expansion, Third Wave Coffee is also broadening its food and beverage portfolio.
The company launched Third Rush Desserts earlier this year and plans to scale the segment with the latest funding. Its broader offering now includes non-coffee beverages, all-day menus, breakfast and savoury options, as well as seasonal and festive offerings.
FAQs
- How much funding has Third Wave Coffee raised?
Third Wave Coffee has raised ₹408 crore ($43 million) in its latest funding round. - Who led Third Wave Coffee’s latest funding round?
The round was led by existing investor WestBridge Capital, with participation from Creaegis and other angel investors - How will Third Wave Coffee use the new funding?
The company plans to use the funds for geographic expansion, increasing store density and scaling newer categories, including Third Rush Desserts. - How many cafés does Third Wave Coffee currently have?
Third Wave Coffee currently operates more than 240 cafés across India and aims to reach 320 by the end of FY27. - What is Third Wave Coffee’s Third Rush Desserts?
Third Rush Desserts is a newer dessert-focused offering from Third Wave Coffee, which the company is scaling alongside its core café and beverage business.
