The ~INR7000cr Indian packaged coffee segment is dominated by incumbents with two players – Nestle and HUL (Nescafe &Bru) – controlling over 65% market share of the industry. Given the lack of innovation in the space, Rage is positioning to become the brand of choice for the next generation of coffee consumers. It recently launched its flavored instant coffee (Mocha mint, Irish hazelnut, Dark chocolate, etc ) along with products such as roast coffee, and cold brew coffee bags.
Rage, a digitally native FMCG brand, is also expanding rapidly using an omni-channel approach. The vitamins-enriched coffee brand was founded in 2018 by Bharat Sethi and its products are retailed through its website, leading online platforms, and over 1000 offline touchpoints through a network of distributors. The company was recently accepted into Amazon’s Global Selling Accelerator Program, which plans to take Indian brands to global markets through the Amazon network.
The brand is planning to expand its online presence and offline footprint pan-India and will utilize the fresh capital for marketing and distribution purposes. Rage Coffee will also use the funds to scale production, launch innovative new products and add senior management talent.
Speaking on the development, Bharat Sethi, Founder & CEO of Rage Coffee, said, “We are excited to work with veteran FMCG investors, Sixth Sense Ventures, through this round of funding. We plan to double down on our efforts across all the channels. We are successfully building a truly omnichannel FMCG brand, with distribution strategies being implemented for the first time, given our digital DNA. In fact, our D2C channel has grown 10x during the pandemic. With this round of funding, we have our sights set on fulfilling our global demand as well with distributor partners in US, Europe and GCC markets already working with us. We see ourselves continuously developing innovative new products in the years to come.”
Nikhil Vora, CEO and Founder of Sixth Sense Ventures, added, “Rage Coffee’s vision is aligned with our philosophy here at Sixth Sense – a disruptive product (flavoured instant coffee), developed by a maverick founder, with a vision to disrupt a large category (INR7000cr+ segment in India). With increasing adoption of the café culture and changing consumer preferences within hot beverages (in favour of coffee), our sense is that the segment will witness a strong increase in penetration. We believe the brand is well positioned to resonate with these new age consumers and create a strong brand affinity for its products. We are excited to partner with Bharat and team in their journey to establish Rage as a marquee Indian brand in the caffeine segment.”
