Bengaluru-based Third Wave Coffee eyes 300 stores by FY23

Bengaluru-based cafe chain Third Wave Coffee on Tuesday said it is planning to expand to over 300 stores in 20 cities by 2022-23.

Currently, the brand clocks a total of 21 cafes in India — 18 in Bengaluru and three in Delhi and Gurgaon, the company said in a statement.

Third Wave Coffee founder Sushant Goel said, ''With most youngsters falling in the high-disposable income group that consumes premium brands more frequently, we see a huge demand for a superior, responsibly sourced and authentic product like Third Wave Coffee that also offers a unique experience to coffee lovers. We aim to serve our exclusive blends in over 300 cafes across 20 cities by FY23.'' All the 300 stores will be company-operated and funded through equity and non-equity means, he stated.

''We have raised equity and non-equity capital of USD 10 million and continue to work closely with investors to raise more capital for further expansion,'' Goel added.

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