New Delhi [India], Apr 10 : Global direct-to-consumer vertically integrated e-commerce tea brand Vahdam Teas on Monday announced receiving of investment worth USD 650,000 from a clutch of eminent angel investors including Kanwaljit Singh's Fireside Ventures, Singapore Angel Network and Mumbai Angels, who have consolidated their market position.
The company which earns its business online, as of today, has grown five
times in the last six months and plans to use the funding to invest in tea preservation technology along with a warehouse in its top market business in USA in the second half of 2017.
Vahdam Teas has now shipped it's teas across the globe with USA, Europe, Russia, South Asia and India accounting for 50 percent, 25 percent, 10 percent 10 percent and five percent of it's overall revenue, respectively.
"The absence of a home-grown brand led to a massive dependence of the entire industry on foreign brands, who not only sell the teas about 12 months after the harvest but they also quickly move to teas from other regions as soon as local farmers increase their price," said founder Vahdam Teas, Bala Sarda.
He added that the company believes that a global Indian tea brand can be the biggest success story of our Prime Minister's ambitious 'Make in India' program'. (ANI)