Third Wave Coffee has raised Rs 408 crore (about $43 million) in a new funding round led by existing investor WestBridge Capital. The round also saw participation from Creagis and several angel investors, with the investment including both primary and secondary capital.
Fresh capital will help the coffee chain expand its cafe network across India, strengthen its presence in existing markets and invest in new product categories. One of the key focus areas is Third Rush Desserts, the dessert brand launched earlier this year as part of its food expansion strategy.
Bengaluru-based coffee chain says the new funding comes at an important stage of its growth journey. The company currently operates more than 240 cafes across the country and plans to reach 320 outlets by the end of the current financial year.
Chief Executive Officer Rajat Luthra said the brand will enter eight new geographies over the next month. He added that the company remains focused on sustainable expansion through strong unit economics, operational discipline and a consistent customer experience.
Cafes Enter New Cities
Over the past year, Third Wave Coffee has expanded into Ahmedabad, Mangalore and Agra while increasing its footprint across Delhi-NCR, Hyderabad, Chennai, Mumbai and Pune. The company has continued to target both metro cities and emerging urban markets.
In June 2026, the brand entered eastern India by opening three cafes in Kolkata. It is also evaluating expansion into Guwahati, Ranchi, Patna and Bhubaneswar as it looks to strengthen its presence across Tier 1 and Tier 2 cities.
Apart from coffee, Third Wave Coffee is investing heavily in food and beverage categories. The company believes customers increasingly prefer cafes that offer complete dining experiences instead of only beverages.
Its menu now includes Third Rush Desserts, breakfast options, savoury meals, seasonal products and a wider range of non-coffee beverages. These categories are expected to improve customer visits throughout the day and increase average spending per customer.
Investors Back Strategy
WestBridge Capital has remained one of the strongest supporters of the brand since its early growth years. The investment firm previously led Third Wave Coffee’s $21 million Series B round in 2022 after backing its $6 million Series A round in 2021.
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.— Rajat Luthra, CEO, Third Wave Coffee
Sandeep Singhal, Co-founder and Managing Partner at WestBridge Capital, said, "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." He added that the investment firm is excited to continue supporting the company as it scales across the country.
Third Wave Coffee Owner
Bengaluru-based coffee giant Third Wave Coffee is one of the fastest-growing premium coffee chains in India. Company was co-founded by Sushant Goel, Ayush Bathwal, and Anirudh Sharma with the aim of making specialty coffee more accessible.
Major institutional investors like WestBridge Capital and Creaegis also hold significant stakes in the company. Brand combines freshly brewed coffee with modern cafe spaces designed for work, meetings and social gatherings.
Over the years, the company has built a loyal customer base by focusing on quality beans, consistent service and locally designed cafe experiences. Today, its network of more than 240 outlets makes it one of the leading organised coffee brands in the country.
According to Rajat Luthra, the company plans to add around 100 new cafes every year. Rather than expanding at any cost, the management says it will continue prioritising profitable stores and faster payback periods.
The latest funding also gives Third Wave Coffee the flexibility to deepen store density in cities where it already has a strong presence. This strategy allows the brand to improve delivery coverage, customer convenience and overall operational efficiency.
Coffee Market in India
In India, organised coffee cafe market has grown rapidly over the past few years as younger consumers increasingly choose cafes for work, leisure and social meetings. Premium coffee chains are also benefiting from rising demand for specialty beverages and experience-led dining.
Third Wave Coffee now competes with national and international brands while building its own identity around premium coffee and modern food offerings. The company believes this combination creates long-term opportunities beyond beverages alone.
Launch of Third Rush Desserts earlier this year marked one of the biggest product expansions in the brand’s history. Alongside desserts, the company has introduced more all-day dining options and seasonal menus to attract repeat customers.
With Rs 408 crore in fresh funding, a target of 320 cafes this financial year and plans to enter several new cities, Third Wave Coffee is entering its next phase of nationwide growth while continuing to strengthen its position in India’s premium cafe market.
