wordpress blog stats
Connect with us

Hi, what are you looking for?

Tea Retail Startup Teabox Raises $1 Mn From Accel Partners, Horizen Ventures – StartupCentral

sc-largeSingapore and Bangalore based Teabox, a company that sources and ships teas from Darjeeling, Assam and the Nilgiris, has raised $1 million in a seed round of funding from Accel Partners and Horizen Ventures, a Singapore based early stage investor. Following the round, the company plans to unveil new features such as a subscription service, expand its catalogue and aggressively enter target markets in the next few months.

teabox“Although tea exports have been steadily increasing in recent years, the time to market continues to be inordinately high. Since freshness and quality of tea deteriorates significantly with time, we believe that our technology back end supported by supply chain infrastructure and innovation will help us reach the end customers in a much shorter period of time. Until we came along, delivering fresh teas 5-6 days post production to a customer, say in New York, was practically unheard of,” Teabox founder Kaushal Dugar said in a press statement. Dugar’s family has been involved in the tea industry since the 1940s. Prior to Teabox, Dugar worked at KPMG Singapore.

Founded in 2012, Teabox has a fulfillment center near Darjeeling in West Bengal and sources premium teas directly from the plantations. It ensures freshness of its products by vacuum packing the tea within 24-48 hours of production and shipping it within the next 24 hours. Regardless of where they are, the company claims that buyers receive their tea packs within 3-5 business days.

Since inception, the company has delivered five million cups of tea to tea lovers in over 65 countries including regions such as the Federated States of Micronesia, Chile, Argentina, Fiji and the Ural Mountains (Siberia). It offers over a 100 varieties of tea.

“The tea industry, which is expected to touch $40 billion in turnover, is ready for disruption. Global ecommerce can circumvent the existing value chain and enable tea producers to connect with customers directly world over. The founder and team members bring on board a deep understanding of the tea industry coupled with previous experience in e-commerce. We see great potential in Teabox becoming the next global tea brand from India,” Accel Partners senior partner Prashant Prakash said.

If you have a passion for tea, also check out Udyan Tea, an online tea marketplace founded last year by Siliguri based entrepreneur Parvez Gupta.

Images credit: Teabox

Advertisement. Scroll to continue reading.

The original post was published here.

(c) StartupCentral

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India and US come to terms on how to deal with the equalisation levy in light of the impending Global Tax Deal.

News

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ