Teabox, an online tea shop and delivery service, based out of West-Bengal, has raised an undisclosed amount from NB Ventures, along with other existing investors.
While, the company claimed that it has sold over one billion cups of tea to consumers across 117 countries including geographies such as the US, India, and Russia.
“We believe in their vision of creating an omnichannel experience given the existing international appeal of their products and look forward to assisting them in their expansion plan leveraging our strong experience and connects,” Neelesh Bhatnagar, CEO of NB Ventures, said.
Teabox is an online tea shop that delivers, every single day, the freshest Indian teas from estates in Darjeeling, Assam, and the Nilgiris as well as freshest teas from Nepal to tea lovers everywhere.
While, founded in 2016, NB Ventures, based out of Dubai, is an early-stage venture fund and has funded over 30 startups so far.
These startups are spread across geographies like US, GCC, India, and France across key sectors including health and beauty, logistics, education, and sustainability.
“This funding has capacitated us to raise a significant amount for our future growth prospects and we are even more upbeat about the opportunities in front of us and are looking to build our expertise accordingly,” Kausshal Dugarr, founder and CEO of Teabox, said.
Teabox recently opened an experiential store at the Bengaluru International Airport and plans on opening a few more in the coming months.
The company claims that the tea leaves used in their product are sourced from over 120 estates across India and Nepal.
The company said that it has an in-house tea tasting panel with a cumulative experience of 100 years of picking teas for their texture, colour, scent, and purity. It is this panel that decides which tea gets on the Teabox catalogue.
Besides Teabox, there are other startups in the similar domain, including Chaayos, Udyan Tea, infinitea, Chai Point, Chai Patty, and many more.