Teabox Announces Strategic Funding Round
Teabox has recently opened an experience centre at the Bengaluru International Airport - Domestic Departures and has made plans for 3-5 more in the next few months.
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Teabox announced today that it has raised an undisclosed round of funding from Dubai based NB Ventures, the family office of Neelesh Bhatnagar, along with participation from existing investors.
The seven-year-old premium tea brand has gained immense worldwide popularity, especially in the United States, India, and Russia, selling over 1 billion cups of premium Indian teas to consumers across more than 117 countries. Teabox has built an end-to-end supply chain all the way directly from the growers to the cup. This has been made possible by establishing a strong procurement team with a cumulative experience of more than 100 years, building a direct relationship with almost 200 plus tea plantations across the length and breadth of the country and building state of the art infrastructure such as cold chain processing centres to ensure the freshness of the teas remain intact. Considered a disruptive brand in the 200-year-old tea industry, Teabox envisaged a changed perception of tea from a “humble afternoon beverage” to a “drink for the soul”.
“We are very excited about investing in Teabox as the tea industry is a huge market and Teabox is a leading player with complete vertical integration. We believe in their vision of creating an omnichannel experience given the existing international appeal of their high-quality products and look forward to assisting them in their expansion plan leveraging our strong experience/connects", said Neelesh Bhatnagar, CEO, NB Ventures Limited.
Teabox has recently opened an experience centre at the Bengaluru International Airport - Domestic Departures and has made plans for 3-5 more in the next few months. Teabox continues to define traditions in the industry and is now pioneering a design-led experience centre that is introducing consumers in India for the first time the art of drinking and enjoying pure teas. Earlier this year, they also sold India’s most expensive tea at 2 lakh per kilogram, pushing the boundaries in experience-led marketing.
Confirming the investment, Kausshal Dugarr, Founder-CEO said, “We look forward to this partnership and are excited to have Neelesh on board. Having sold 1 billion cups of tea in 117 countries, we are even more upbeat about the opportunities in front of us across the globe and are looking to build our expertise accordingly. This funding has capacitated us to raise a significant amount for our future growth prospects. Neelesh and all our investors have trusted us immensely and with their support and credence we’re looking forward to remarkable expansions for Teabox in the near future”.