Teabox, Online Premium Tea Seller, Receives A Fresh Cup Of Funding

Four months after the company received funding from Ratan Tata, Teabox, the online premium tea seller has raised funding from Cameron Jones, a Singapore-based angel investor. The company has also raised venture debt from DBS Bank Limited. The company plans to use the funding to expand its services into new territories around the world. 

India’s Tea On A World Arena

Launched in 2012 by Kaushal Dugar, the Siliguri-based Teabox is an emerging premium tea seller all over the world. The company currently partners with over 150 tea plantations in Darjeeling, Assam, Nilgiri and Nepal. Speaking about the funding raised, Dugar said “This capital will give us additional resources to expand quickly and strategically into new markets, innovate rapidly, and deliver on our vision around the world.” 

Backing A Global Tea Brand

Although based in India, the company receives around 95 percent of total revenue from other countries. Since its launch, the company has delivered nearly 35 million cups worth of tea to customers in over 94 countries and has seen 2.5 times growth over the past one year. Speaking about investing in Teabox, Jones said, “I invested in Teabox because it is well positioned to become the global premium tea brand in the world, and I want to back them in growing their business on a global scale.” 

Strategic Hires

Along with raising a fresh round of funding, the company also announced hirings of key members to help the company attain a global presence. Nicole Naumoff will help with the company’s global marketing efforts with over 20 years of marketing experience with global brands. Amit Sharma will be responsible for leading Teabox’s tech space and help grow the company’s e-commerce platform. Earlier this year, Teabox raised an undisclosed amount of funding from Ratan Tata and also raised nearly $6 million last year from JAFCO Asia, Keystone Group and Dragoneer Investment. The company currently offers over 300 varieties of teas priced from Rs. 400 to Rs. 6000.