India-based fast-moving consumer goods company Rage Coffee has raised about US$5 million in its series A funding round led by Sixth Sense Ventures.
Photo credit: Rage Coffee
The fresh funds will be used for the company’s marketing and distribution purposes. It will also invest in scaling its production process, launching new products, and expanding its senior management team.
Founded in 2018, Rage Coffee aims to disrupt the instant coffee segment by offering flavors such as mocha mint, Irish hazelnut, and dark chocolate, among others. It will also introduce products like roast coffee and cold brew coffee bags.
“With increasing adoption of the cafe culture and changing consumer preferences within hot beverages (in favor of coffee), our sense is that the segment will witness a strong increase in penetration,” said Nikhil Vora, CEO and founder of Sixth Sense Ventures.
Rage Coffee products are distributed through its own website, online platforms, and over 1,000 offline stores through its network of distributors. It is also looking to expand its online presence and offline footprint across India.
See also: Why Kopi Kenangan leads Indonesia’s VC-backed coffee wars
Recently, the company was accepted into Amazon’s Global Selling Accelerator program, which plans to take Indian brands to global markets through the Amazon network.
Rage is also set to capitalize on the uptick in the adoption of the direct-to-consumer model across the country brought on by an increase in internet penetration and changes in consumer behavior.
Editing by Miguel Cordon and Jaclyn Tiu
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