Third Wave Coffee Raises ₹408 Cr as It Targets 320 Cafes

Third Wave Coffee has raised ₹408 crore, or around $43 million, in a fresh funding round led by existing investor WestBridge Capital. Creaegis and a group of angel investors also participated in the round, which included a mix of primary and secondary capital. The company said most of the funding came through a primary issuance.

The Bengaluru-based coffee chain plans to use the fresh capital to deepen its presence in existing markets, open more outlets in high-potential cities and expand its newly launched Third Rush Desserts business. Third Wave currently operates more than 240 cafes across India and is targeting 320 outlets by the end of the current financial year.

The company is also widening its geographic footprint. After expanding into cities including Ahmedabad, Mangalore and Agra over the past year, Third Wave entered eastern India with three cafes in Kolkata in June 2026. It is now looking at newer markets including Ludhiana, Jalandhar, Amritsar and Lucknow, while continuing to build density across Delhi NCR, Mumbai, Pune, Hyderabad and Chennai.

Founded in 2017 by Sushant Goel, Ayush Bathwal and Anirudh Sharma, Third Wave Coffee has grown from a speciality coffee startup into one of India’s prominent organised cafe chains. Alongside its cafes, the company sells packaged products such as coffee beans and cold brew bags. The latest round takes its total funding to more than $105 million.

The fundraise also comes at a higher reported valuation. According to a Mint report cited by Entrackr, Third Wave Coffee is now valued at around ₹2,000 crore, compared with roughly ₹1,200 crore in its previous round. With more stores and a new dessert vertical on the agenda, the company’s next challenge will be turning rapid expansion into a stronger, more scalable food-and-beverage business.