Teamonk raises Rs. 3.5 Cr in Pre-Series A round led by Inflection Point Ventures

Teamonk has raised Rs. 3.5 Cr in a Pre-Series A round led by Inflection Point Ventures. The funds raised will be utilized for domestic penetration and exploring uncharted territories in international markets.

IPV has been at the forefront of helping early-stage startups by helping them in growing their business. IPV believes in supporting financially and leveraging their vast CXO network to help startups grow their business too. Taking this a step further, IPV also recently announced the launch of Physis Capital, a $50 million fund that will be used in part to support growth-stage startups from the current IPV portfolio as part of its winner’s strategy.

Vinay Bansal, Founder & CEO, of Inflection Point Ventures, says, “While tea has been a universal and most preferred everyday antioxidant drink, the last few years have witnessed a tectonic shift in consumer consumption behavior globally. Consumers are now moving to organic & healthy tea beverages which are accompanied by the goodness of taste & health benefits such as antioxidants, immunity booster, enhancement in skin, anti-aging benefits, a boost in mental alertness and concentration, and much more. Consumers too are also willing to spend for an authentic cup of tea. Teamonk with its excellent product curation and innovation abilities has over 64 specialty tea variants and has 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.”

Teamonk is a wellness D2C brand launched in April ‘17. Founders Amit and Ashok combined the natural goodness of ‘Green Tea’ high in antioxidants with their expert knowledge of Ayurveda and Plant Botanic contributing to significant immunity building and wellness. Ensuring ‘Fresh from Gardens’ product without compromising the 100% pure, natural, and signature taste experience combined with unparalleled wellness benefits delivered within a compressed time frame to the customers.

Ashok Mittal, Managing Director, Teamonk says, “Covid has further heightened the need for wellness and immunity across socio-economic groups globally. We are delighted to fulfill this need through our range of 100% pure and natural, delicious tasting teas”.

Teamonk is currently distributing in countries like the US, UK, UAE, Canada, Germany, Australia, and India and establishing a remarkable imprint in the global specialty tea market. The brand has launched a wide range of green teas with Ayurvedic ingredients during Covid. The value of the brand resonates with that of the monk building an impeccable brand reputation. A single-minded proposition of ‘looking good and feeling good and a driven mindset to fulfill customers’ needs through their range of 100% pure and natural, delicious tasting teas.

The global specialty Tea market is estimated at USD 5.8 Bn and the Indian specialty tea market is USD 500 Mn growing at a CAGR of 30%. The specialty teas account for 3% of tea consumption in India by volume, but about 18% by revenue. With an existing habit of tea consumption in the country, Teamonk offers 100% pure and natural range of delicious and exotic tasting green teas infused in Triphala, Ashwagandha, Brahmi, and Kadha contributing to significant immunity building and wellness.

The market has untapped potential, leveraging the immense experience of founders in the tea industry, Teamonk has accomplished successful contracts with tea plantations that can produce as per quality standards, simplify sourcing, vertical integration, and controlled supply chain to deliver a quality range of teas.