Home grown specialty tea brand Teamonk Global has raised US$ 1 million in pre-series A round, led by former McKinsey Chief Rajat Gupta and Roots Ventures. With this investment, the company looks to scale up its portfolio of premium teas and targets to reach new geographies.
Founded by Ashok Mittal and Amit Dutta in the year 2016, Teamonk sells premium specialty tea sourced from the Nilgiri hills in Tamil Nadu and Darjeeling in West Bengal. The founders have decades of experience in the tea business with global consumer goods firm Unilever.
Commenting on the funding, Japan Vyas, Founder, Roots Ventures adds, “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. 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.”
Offering 100 percent pure and natural teas with pure ingredients, without any use of flavours, essence or oils; Teamonk Global recently added a range of natural fruit and flower based green teas like Mango, Hibiscus, Chamomile apart from pure herb based green teas and Japanese Matcha Green tea. The brand has also launched a range of pure herbal infusions like Chamomile, Turmeric Ginger, Peppermint, Tulsi- Ginger etc. Teamonk Global is already available in US, Canada and European markets, with plans to increase its global presence.
At the back of this investment news, Teamonk Global also announced the appointment of veteran FMCG professional, Nalin Sood as its Chief Executive Officer (CEO).
“Teamonk Global aims to reposition tea as an exciting and refreshing beverage, fulfilling the deeper consumer need of ‘Looking Good and Feeling Good’. 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,” exclaims, Amit Dutta, Co-Founder & Executive Director, Teamonk Global.