Teabox, the global speciality tea company, is the latest to received funding from Ratan Tata, Chairman Emeritus of Tata Sons. This is the fourth start-up in 2016 to receive the attention of Tata. As with Tata’s investments, this too is an undisclosed amount. The additional capital will be used to fuel Teabox’s growth as it expands to other major markets around the world. Teabox is backed by Singapore-based JAFCO Asia, Accel Partners, Keystone Group LP and Dragoneer Investment Group.
Tata started off 2016 by first investing in Tracxn – a startup intelligence and market research platform, Dogspot – an online pet care platform, and Cashkaro – a cashbacks and coupon site. The additional capital will help Teabox to expand to other markets around the world. Teabox has already raised $7 million till date. It raised $6 million in Series A funding in March last year.
Teabox works with 150 plantations in Darjeeling, Assam and Nepal. Teas go to the firm’s cold storage within 48 hours of production where they are vacuum packed and shipped to customers around the world in about a week, according to Dugar. Traditionally it takes three to six months for the teas to reach consumers.