Cold brew coffee is produced by immersing coffee beans in cold water for nearly a day, without the use of external heat.
Sleepy Owl Coffee Pvt. Ltd, which sells cold brew coffee under the Sleepy Owl brand has received Rs 3.5 crore (around $540,000) Funding from Early-stage investment firm DSG Consumer Partners.
In a statement, Delhi-based Sleepy Owl said it plans to use the seed funding to expand its product portfolio and grow its footprint across the country with its main in Delhi-NCR.
Sleepy Owl co-founder Ajai Thandi said the fresh infusion would help the firm streamline operations. He said the main focus for the year ahead would be to increase Sleepy Owl’s existing customer base of 15,000 by increasing stock keeping units (SKUs), boosting retail presence and marketing.
Thandi, Ashwajeet Singh, and Arman Sood had set up Sleepy Owl in June 2016. The company, which was incorporated last year, sells coffee through its ready-to-drink offerings as well as powder packets.
Cold brew coffee involves steeping coffee beans in cold water for nearly a day, with no use of external heat.
Deepak Shahdadpuri, managing director at DSG Consumer Partners, said the segment is increasingly becoming popular around the world.
Trilegal acted as legal advisor to DSG Consumer Partners on the Sleepy Owl deal.