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TeaMonk raises Rs. 3.5 Crore in Pre-Series A round led by Inflection Point Ventures

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Premium Tea brand TeaMonk has raised Rs. 3.5 Cr in a Pre-Series A round led by Inflection Point Ventures. The funds raised will be utilized for domestic penetration and exploring uncharted territories in international markets, an official statement highlighted.   

IPV has been at the forefront of helping early-stage startups by helping them in growing their business. 

Vinay Bansal, Founder & CEO, Inflection Point Ventures says, “While tea has been a universal and most preferred everyday antioxidant drink, the last few years have witnessed a tectonic shift in the consumer consumption behavior globally. Consumers are now moving to organic & healthy tea beverages which are accompanied with goodness of taste & health benefits such as antioxidant, immunity booster, enhancement in skin, anti-aging benefit, boost in mental alertness and concentration and much more. Consumers too are also willing to spend for an authentic cup of tea. TeaMonk with their excellent product curation and innovation abilities have over 64 specialty tea variants and have created exactly what is needed in the market. The brand is all set to emerge as a leader in the specialty tea segment and IPV continues to support them in their endeavor to provide the best to tea consumers not only in India but also in the global market.”

Teamonk is a wellness D2C brand launched in April ‘17. Founders Amit and Ashok combined the natural goodness of ‘Green Tea’ high in antioxidants with their expert knowledge of Ayurveda and Plant Botanic contributing to significant immunity building and wellness.

Ashok Mittal, Managing Director, Teamonk says, “Covid has further heightened the need for wellness and immunity across socio-economic groups globally. We are delighted to fulfill this need through our range of 100% pure and natural, delicious tasting teas”. 

Teamonk is currently distributing in countries like the US, UK, UAE, Canada, Germany, Australia and India and establishing a remarkable imprint in the global specialty tea market. The brand has launched a wide range of green teas with Ayurvedic ingredients during Covid.

Global specialty Tea market estimated at USD 5.8 Bn and India specialty tea market USD 500 Mn growing at a CAGR 30%. The specialty teas account for 3% of tea consumption in India by volume, but about 18% by revenue.