Tea Trunk, an online tea store, has raised $220k in angel funding led by a group of angel investors and the Rebalance community. The company was founded by Snigdha Manchanda in 2013. Tea Trunk participated in Rebalance accelerator’s inaugural cohort last year.
Other investors include Anand Sinha, Global Head at Zomato Gold; Anshul Agarwal, Co-head, Consumer, FIG, and Business Services at Avendus Capital; Mandar Vaidya, CEO at OYO for South-East Asia and the Middle-East; Puneet Chandra, CEO at Skootr; Rohit Shankar, Co-founder at DimDim (acquired by Salesforce), Sorabh Agarwal, ex-MD — Copal Amba (acquired by Moody’s Analytics) and Vaibhav Suri, Co-head product and strategy at Delhivery.
The company will utilize these funds in business expansion and team growth.
Tea Trunk is the home of finest teas from India: whole-leaf, flavorful and with all the health benefits intact. Whether it’s tea tastings, tea appreciation workshops or tea products – each initiative is oriented towards promoting and celebrating teas of India.
Snigdha Manchanda, Founder at Tea Trunk, said, “We plan to use the funds to expand our product line of health-focused teas, launch more innovative products, and to strengthen our positioning in the wellness space – as a functional beverage for daily consumption.”
Vikas Kumar and Aishwarya Malhi, Co-founders at Rebalance, added, “Snigdha has relentlessly built a profitable company in a challenging consumer brand space. She did this while focusing on a superior product and building a robust team. We are happy we could help Snigdha navigate through fundraising and actively participate in shaping her company for future growth.”
With over 200 stockists/partners across India, Tea Trunk claims its teas are enjoyed across 15 countries and the customer base has been growing at 150 percent YoY.
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