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The Economic Times
Third Wave Coffee funding: Third Wave Coffee raises Rs 408 crore in funding round led by WestBridge Capital
Third Wave Coffee raised Rs 408 crore ($43 million) in funding to enhance its cafe business across India. The round included participation from existing investors and aims to expand its store count from over 240 to 320 by financial year end. The company is also venturing into new product lines like desserts as part of its diversification strategy. Despite previous losses, the company expects to benefit from rising coffee consumption and a still-growing cafe market.
MonitorConfidence: MediumShort term horizon
Published 24 Aug 2026, 06:30 UTC4 min read
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Summary
TL;DR
- Raised Rs 408 crore in a funding round led by WestBridge Capital
- Plans to expand from 240 to 320 cafes within the current financial year
- Entered new markets including Kolkata and evaluating further expansion
- Revenue rose 67% to Rs 241 crore in FY24 despite a net loss increase
- Focus on sustainable scaling and maintaining strong unit economics
Interesting facts
- Third Wave is entering eight new geographies soon.
- The company launched Third Rush Desserts earlier this year.
- The competitive landscape includes emerging players like Blue Tokai and global chains.