Teamonk raises Rs 3.5 crore in a pre-Series A round led by Inflection Point Ventures
The Bengaluru-based Teamonk premium tea brand has raised Rs 3.5 crore ($ 456K) in a pre-series A-sponsored round of Inflection Point Ventures, an angel-based investment company based in Gurugram.
Amit Dutta and Ashok Mittal launched Teammonk in April 2017. Teamonk claims to combine the natural beauty of ‘Green Tea’ high in antioxidants with their expert knowledge of Ayurveda and Plant Botanic which contributes to the formation of a remarkable immune system and life. well.
Ensuring a ‘Fresh From the Garden’ product without compromising the 100% pure, natural, and signature taste experience combined with the incomparable health benefits brought about during the pressured time for customers.
According to a company statement, Funds raised will be used to enter and inspect unspecified areas in international markets.
The D2C version is available worldwide and currently distributes its products in the US, UK, UAE, Canada, Germany, Australia, and India. Introduced a variety of green tea with Ayurvedic ingredients during Covid. The product value goes hand in hand with that of a monk that builds a good brand name. A one-off proposition of ‘look good and feel good and a driven mindset to meet customer needs with their 100% list of pure and natural, delicious, delicious tea.
Ashok Mittal, Managing Director, Teamonk said: “Covid has also increased the need for health and safety for all social and economic groups around the world.
“While tea has been a popular and popular antioxidant drink, over the past few years it has seen a change in consumer behavior around the world. Consumers are now moving to healthy and healthy tea drinks that taste good and have health benefits such as antioxidant, immunity booster, skin improvement, anti-aging, mind-boosting and mind-blowing and much more, “said Vinay. Bansal, Founder & CEO, Inflection Point Ventures.
“Consumers are also determined to break the authentic cup of tea. Teamonk with its excellent product selection and design skills has more than 64 specialty tea varieties and created exactly what the market needs. This product is poised to emerge as a leader in the specialty of tea and IPV continues to support them in their quest to provide the best possible supply to tea consumers not only in India but also in international markets, ”added Vinay Bansal.
The global specialty tea market is estimated at the US $ 5.8 billion and the Indian specialty tea market is $ 500 million growing at a CAGR of 30%. Special tea takes up 3% of India’s tea consumption by volume, but about 18% of revenue.
With the current practice of tea used in the country, Teamam offers a pure and natural range of delicious and exotic green tea packaged in Triphala, Ashwagandha, Brahmi and Kadha contributes to the formation of the immune system and good health, he said.
The market has unparalleled potential, gaining great experience from the founders of the tea industry, Teamonk has achieved successful contracts and tea fields can produce quality standards, facilitate access, direct integration, and a controlled supply chain to deliver a range of quality tea, he adds.
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