TeaMonk – a Bengaluru-based company in Karnataka, India, which offers more than 60 variants of premium tea – has raised significant investment funds from a pre-series round of funding, led by Inflection Point Ventures.
The funds raised will be used by TeaMonk for domestic expansion and exploring uncharted territories across international markets.
TeaMonk is a wellness direct-to-consumer brand that launched in April 2017. Founders Ashok Mittal and Amit Dutta wanted to combine the “natural goodness” of green tea, which is high in antioxidants, with their expert knowledge of Ayurveda alternative medicine practices and plant botanicals that contribute to immunity building and wellness.
Mittal, TeaMonk’s managing director, said, “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 percent pure and natural, delicious tasting teas.”
Teamonk is currently distributing its teas the United States, the U.K., UAE, Canada, Germany, Australia and India, and its owners say the company is establishing “a remarkable imprint in the global specialty tea market.
The brand launched a wide range of green teas with Ayurvedic ingredients during the COVID-19 pandemic, which supports their single-minded proposition of “looking good and feeling good,” as well as their mindset to fulfill customers’ needs with natural, delicious tasting teas.
Vinay Bansal, founder and CEO of Inflection Point Ventures (IPV), the angel investing platform that helped TeaMonk raise investment funds, said, “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 and healthy tea beverages, which are accompanied with goodness of taste and health benefits – such as antioxidant, immunity booster, enhancement in skin, anti-aging benefit, boost in mental alertness and concentration and much more.”
Bansal added, “Consumers too are also willing to spend for an authentic cup of tea. TeaMonk – with their excellent product curation and innovation abilities – has 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 has accomplished successful contracts with several tea plantations, all of whom can produce to the quality standards that TeaMonk requires, while simplifying sourcing, vertical integration and controlled supply chain to deliver the brand’s range of teas.
Mittal and Dutta, TeaMonk’s founders, noted that they have in-depth experience in the tea manufacturing process, which they say has elevated confidence with consumers and investors.
Inflection Point Ventures supports new-age entrepreneurs, like TeaMonk, by providing them with monetary and experiential capital and by connecting them with a diverse group of investors.
To learn more about TeaMonk, visit TeaMonk.com. To learn more about Inflection Point Ventures, visit IPVentures.in.
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