Premium tea brand Freshleaf has secured Rs 1 crore in a seed round led by Inflection Point Ventures. According to startup, the funds will be used to expand marketing efforts, increase production capacity, and enhance research and development for new products. The company aims to strengthen its brand presence, meet growing demand, and introduce new teas to its consumers.
Balkirat Singh, Co-Founder and CEO of Freshleaf, said, “At Freshleaf, we are committed to our mission of fundamentally transforming the global tea experience. Our partnership with IPV is a clear sign of what we can achieve together. We're setting out to reimagine how tea is enjoyed, making every sip a blend of tradition and innovation.” Singh, who has a background as a Chartered Accountant and former finance and sales professional, drives the company's growth and strategic financial and sales management.
Muneet Arora, Co-Founder and CMO, oversees marketing and product development. She said, “We are pushing boundaries with unique blends that excite today's consumer, providing convenience and exceptional taste. Everyone deserves the finest quality tea at an accessible price, and we're committed to making the tea experience modern and delightful for all.”
Vikram Ramasubramanian, Partner at Inflection Point Ventures, said, “Freshleaf aligns perfectly with our commitment to supporting innovative businesses that prioritise quality and health. Freshleaf's unique approach to crafting premium teas combined with health benefits presents an exciting opportunity for us to contribute to a startup that is set to redefine the tea industry. We believe in Freshleaf's dedication to foster a culture of health, wellness, and taste.”
Since its inception in 2022, the company said it has built a strong offline presence, reaching over 550 stores across 40 cities in India. The company offers a range of flavours in both sparkling and traditional teas, catering to diverse tastes and preferences. Some products include health-enhancing elements like added vitamins and electrolytes, with prices starting from Rs 130.
The startup is also venturing into modern retail and quick commerce while expanding into the UAE market. The company has introduced 18 unique products, including sparkling tea, and has enhanced its brand recognition through strategic marketing initiatives such as interactive tastings.
In 2023, the Indian tea market was valued at approximately Rs 9,277 crores ($11.1 billion) and is estimated to reach around Rs 12,277 crores ($14.7 billion) by 2032, with an annual growth rate of 3.18%. Globally, the tea market was about Rs 41,355 crores ($49.53 billion) in 2023 and is forecasted to grow to around Rs 82,094 crores ($98.29 billion) by 2033, with an expected yearly growth rate of 7.09%.
