Friday, June 14, 2024

Freshleaf Raises INR 1 Crore in Seed Round Led by Inflection Point Ventures

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Premium tea brand Freshleaf has raised INR 1 crore in a seed round led by Inflection Point Ventures. The funds will be used to expand marketing efforts, increase production capacity, and enhance research and development for new products. By focusing on these key areas, Freshleaf aims to strengthen its brand presence, meet growing demand, and introduce new teas to its consumers.

L-R_Muneet Arora, Co-Founder & CMO, and Balkirat Singh, Co-Founder & CEO, Freshleaf

This investment will enable Freshleaf to offer high-quality teas and elevate the tea-drinking experience for modern consumers. Balkirat Singh, Co-Founder & CEO  Freshleaf, said, “At Freshleaf, we are committed to fundamentally transforming the global tea experience. Our partnership with IPV is a clear indication of what we can achieve together. We are reimagining how tea is enjoyed, making every sip a blend of tradition and innovation.”

Muneet Arora, Co-Founder & CMOFreshleaf, added, “We are pushing boundaries with unique blends that excite today’s consumers, providing convenience and exceptional taste. Everyone deserves the finest quality tea at an accessible price, and we are committed to making the tea experience modern and delightful for all.”

In 2023, the Indian tea market was valued at around ₹9,277 crores (USD 11.1 billion) and is estimated to reach about ₹12,277 crores (USD 14.7 billion) by 2032, with an annual growth rate of 3.18%. Globally, the tea market was approximately ₹41,355 crores (USD 49.53 billion) in 2023 and is forecasted to grow to around ₹82,094 crores (USD 98.29 billion) by 2033, with an expected annual growth rate of 7.09%.

With the introduction of 18 unique products, including innovative options like sparkling tea, Freshleaf aspires to become a leading name in the competitive beverage market. Through strategic marketing initiatives such as interactive tastings, the company has effectively enhanced its brand recognition and customer engagement. Freshleaf is now venturing into modern retail and quick commerce while expanding its reach into the UAE market, aiming to enhance accessibility and solidify its position as a leading tea provider.

Founded in 2022 by Balkirat Singh and Muneet Arora, Freshleaf is at the forefront of transforming the tea experience. Combining tradition with innovation, the brand has created a unique line of traditional and sparkling teas.

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