First Coffee raises USD 1.3 Mn in a pre-Series A round led by DG Daiwa Ventures to expand its store network and enter tier 2 cities
Speciality coffee brand First Coffee has raised USD 1.3 million (about Rs 11.1 crore) in a pre-Series A funding round led by Japanese venture capital firm DG Daiwa Ventures (DGDV), marking the investor’s first investment in India’s speciality coffee market. BEENEXT, Sanjay Kapoor, Shashank Bhagat and other angel investors also participated in the round.
Founded in 2024 by Sohrab Sitaram and Shiv Dhawan, First Coffee has expanded to 25 stores across Delhi, Punjab and Haryana. The latest fundraise takes the company’s total capital raised to USD 2.5 million (about Rs 21.4 crore).
The company plans to deploy the fresh capital towards expanding its store network, strengthening its corporate team, increasing marketing investments and developing new products. First Coffee also plans to expand beyond major urban markets and enter tier 2 cities.
Positioned as a grab-and-go speciality coffee brand, First Coffee targets younger consumers, particularly Gen Z, with beverages including cold coffee and matcha. The company uses 100 per cent Arabica beans sourced from Indian coffee estates and is seeking to build a lifestyle and community around coffee.
The founders believe India’s out-of-home coffee market is entering a period of rapid growth. First Coffee aims to build a national speciality coffee brand around quality, convenience, technology and accessible pricing.
