Tata Sons’ chairman emeritus, Ratan Tata has invested an undisclosed amount in tea e-tailer Teabox.com. The raised capital will be used by the startup to expand its global footprint.
Founded in 2012 by Kaushal Dugar, Teabox, which is run by Bangalore and Singapore-based Asian Teaxpress Pte Ltd, is an online platform which ships fresh Indian tea to customers globally.
The company currently exports tea to 93 countries and aims to cross 100 soon. Teabox works with about 200 plantations in Darjeeling, Assam and Nepal. It claims to vacuum-pack the tea within 24-48 hours of production and ship it within the next 24 hours to ensure freshness of the products. The buyers receive the packs in three to five business days.
Commenting on the development, Dugar said, “Ratan Tata’s direct guidance and experience in the tea industry will surely help us grow as the first global premium tea brand from India.”
In March 2015, Teabox.com had raised $6 million in funding from JAFCO Asia, Accel Partners and others.
Other startups which are dealing in tea, and have raised fund are Chaayos and Chai Point.