Restaurant Franchise Opportunities

funding Mar, 21 2014

Teabox raises fund

Received USD 1 million from Accel Partners and Horizen Ventures.

By Franchise India Bureau
Teabox raises fund

Teabox, which sources and ships tea from Darjeeling, Assam and the Nilgiris, has raised USD 1 million funds from Accel Partners and Horizen Ventures.

Commenting on the same, Kaushal Dugar, Founder, Teabox, said, “Since freshness and quality of tea deteriorates significantly with time, we believe that our technology supported by supply chain infrastructure and innovation will help us reach the end customers in a much shorter period of time.”

The company has planned to expand its subscription service, catalogue and aggressively enter target markets in the next few months.

Prashant Prakash, Senior Partner, Accel Partners, stated, “The tea industry, which is expected to touch USD 40 billion in turnover, is ready for disruption. We see great potential in Teabox becoming the next global tea brand from India.”

Founded in 2012, Teabox has a fulfilment center near Darjeeling, West Bengal and sources premium tea directly from the plantations. The company has its presence in over 65 countries offering over 100 varieties of tea.

Related: Gujarat-based QSR chain Neopolitan Pizza secures funding

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