Description
TeaMonk is a three-year-old Specialty tea venture based in Bangalore, offering the finest quality of healthy and exotic tasting Green, Oolong, White & Black teas primarily through online. Asset-light and a very tightly controlled organization. Building a global specialty tea brand of Indian heritage catering to the affluent segment need of “Looking good and feeling good.”
Details of the round –
The company is in the process of closing of Pre Series A round of USD 1.5 Mn. of this amount, they already had a commitment of USD 500k including additional funding from existing investors. They are looking to raise the balance of USD 1Mn at a pre-money valuation of USD 8.5Mn.
Their existing investors include eminent names, Hunch Ventures (A family fund with investments in lifestyle, media, technology & co-working spaces), Roots Venture, Rajat Gupta, Suresh Prabhala, Founder, ADV Partners (ADV Partners is an Asian private equity firm with offices in Hong Kong, Singapore, Shanghai, and Mumbai); Raj Makam, MD, Oaktree Capital (Oaktree Capital Management is a leading global alternative investment management firm).
They also have onboard Dr. Maduhmohan Katikneni, an eminent personality in public health and based in Washington DC.
The minimum commitment to the company is INR 5 Lakhs. In case commitments exceed the ask amount, allotment will be on the “First Come, First Serve” basis.
