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The latest funding round gives Third Wave Coffee fresh capital to accelerate its expansion across India while scaling its emerging dessert business.
The coffee and food QSR company has raised Rs 408 crore ($43 million) in a round led by existing investor WestBridge Capital, comprising both primary and secondary capital. Creagis and other angel investors also participated in the round.
The funds will be used to strengthen the brand's presence in existing markets, increase store density in high potential cities and expand its reach across a wider range of consumer occasions. Part of the capital will also be invested in Third Rush Desserts, the dessert focused business launched by the company earlier this year.
Third Wave Coffee currently operates more than 240 cafés across India and is targeting 320 cafés by the end of the fiscal year. Over the past year, the brand has expanded into Ahmedabad, Mangalore and Agra, while further strengthening its footprint across Delhi NCR, Hyderabad, Chennai, Mumbai and Pune.
The company also made its entry into East India in June 2026 with three outlets in Kolkata. It is now evaluating further expansion opportunities in markets including Guwahati, Ranchi, Patna and Bhubaneswar.
“Third Wave Coffee has reached an important point in its journey. We currently operate more than 240 cafés across India and are aiming to reach 320 cafes by fiscal end. By next month, we will be entering 8 new geographies. Over the years, we have built a strong consumer proposition, and our focus remains on scaling the business sustainably, with strong unit economics, healthy store payback economics, operational discipline and a consistent customer experience. This fundraise will help us accelerate our expansion across the country while strengthening new categories, with desserts being an important part of the journey. Our vision to add 100 new cafes every year; reflects the significant opportunity we see ahead,” said Rajat Luthra, CEO, Third Wave Coffee.
Beyond its core coffee offering, Third Wave Coffee is expanding its portfolio to cater to a broader range of consumption occasions. The company is building out Third Rush Desserts alongside signature non coffee beverages, all day menus, breakfast and savoury options, seasonal and festive limited time offerings and other occasion led formats.
The latest funding round also marks continued backing from WestBridge Capital, which has been an existing investor in the company. The investment firm previously led Third Wave Coffee’s $21 million Series B round in 2022, following its $6 million Series A funding round in 2021.
“Coffee is becoming an increasingly important consumer category in India, and Third Wave Coffee has built a strong position through its relentless focus on quality and execution. Rajat, Anirudh and the entire team have built an exceptional business, and we are excited to continue partnering with them as they scale the brand across the country,” said Sandeep Singhal, Co-founder & Managing Partner, WestBridge Capital.
With fresh capital at its disposal, Third Wave Coffee is looking to accelerate its geographic expansion while increasing the contribution of newer categories beyond its core coffee business.
