TeaMonk raises Rs 6.5 Cr from Inflection Point Ventures & other investors

After Milkbasket and BluSmart, Inflection Point Ventures leads yet another late-stage round and this also marks its 16th investment in India since March this year.

Vinay Bansal, Founder & CEO, IPV says, “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 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.”

Ashok Mittal, Managing Director, TeaMonk says, “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 terrific consumer response to these introductions.”

The speciality tea market is estimated at $5.8 billion globally. In India, the market size is approximately $450 million, growing at 30% CAGR.

TeaMonk in a short span of 3 years has built a strong presence in India and 20 international markets like the US, Europe, Middle East and Japan. The Company has built their business around fresh teas which are sourced from the top tea gardens in India and claims to have made robust supply chains to ensure shortest go to market time to preserve the freshness of the tea leaves.