mCaffeine has raised Rs 42 crore in its latest round of Series B funding from a consortium of investors led by Amicus Capital. This is the third round of funding by the company so far. RPSG ventures along with existing investor Telama Investments and Aman Gupta, the founder of Boat Audio, also participated in this round. mCaffeine, a D2C brand which focuses on young millennials, is slated to become a Rs 500 crore brand in the next three years.
The company has raised funds in June 2019 when it received $2 million in Series A round of funding from a group of investors which was led by RPSG Ventures. In just four years of launch, it has sold over 2.8 million products amounting to Rs 100 crores. And as a testimony to its strong connection with its consumers, mCaffeine has bounced back from COVID-19 disruptions to surpass its pre-COVID revenue run rate. While the brand is still quite young, its products are best sellers amongst multiple categories on Amazon and Nykaa.
With caffeine at the heart, the startup makes premium world-class products using coffee, tea and chocolate. Caffeine, a rich source of antioxidants, present in coffee, tea and chocolate has magical properties for skin and hair. Its products are envisioned, engineered, designed and manufactured in India. The company believes in ‘Make in India’ and ‘Vocal for Local’ to support home grown enterprises. The products are manufactured after extensive research and development. It embodies the millennial philosophy of natural first in the form of clean label. mCaffeine sees product development as an exercise to address the needs of modern lifestyle. It plans to penetrate the market aggressively by giving more emphasis to a customer-driven approach, especially, for the young millennials of India with premium offerings. Currently, the products are available at 18,000 pincodes across the country. The company plans to increase its online and offline presence substantially, and is venturing into the market with a very superior product range which is natural, and organic.