Teamonk, a D2C tea brand, has raised Rs 3.5 crore in a pre-series A round led by early-stage angel investing platform Inflection Point Ventures.

As per the startup, the raised funds will help expand its reach in the domestic market as well as expand its presence in international markets.

Teamonk | Specialty Tea Brand

Launched by Ashok Mittal and Amit Dutta in April 2017, Teamonk is a direct-to-consumer packaged tea brand that sells a range of green and black teas such as turmeric moringa green tea, Assam masala tea along with herbal infused teas.

Speaking about the development, Vinay Bansal, founder and CEO of Inflection Point Ventures, said,

“Teamonk, with their excellent product curation and innovation abilities, have over 64 specialty tea variants and have created exactly what is needed in the market. The brand is all set to emerge as a leader in the specialty tea segment, and IPV continues to support them in their endeavor to provide the best to tea consumers not only in India but also in the global market.”

The D2C tea brand has contracts with tea plantations that can produce as per quality standards, simplify sourcing, vertical integration and offer a controlled supply chain for the company. Teamonk is currently distributing its products in countries like the US, Canada, Germany, UK, UAE, Australia and India.

Ashok Mittal, the co-founder of Teamonk, stated that the pandemic heightened the need for wellness and immunity products across socio-economic groups globally.

The tea consuming and producing market in India is large and has the presence of several large and small branded tea players. In this space, specialty teas account for 3% of tea consumption in India by volume. The specialty tea market in India is estimated at $500 million, growing at a CAGR of 30%.

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