First Coffee, a new specialty coffee brand, has raised $1.2 million in a seed funding round led by BEENEXT. Other investors include Ashish Gupta (Helion Venture Partners), AngelList India, and Dr. Ritesh Malik (Innov8 founder), among others.
The funds will help First Coffee open more stores in key urban areas, such as New Delhi, NCR, and Tier I cities in North India. By the second quarter of next fiscal year, they aim to open 35 small outlets in busy areas like malls, corporate parks, and metro stations.
Founded in 2024 by Sohrab Sitaram and Shiv Dhawan, First Coffee combines modern design, culture, and data analysis to create a unique coffee experience. They use shade-grown coffee and eco-friendly farming techniques. As the Indian coffee market grows, projected to reach $1227.47 million by 2032, the company is well-positioned to grow.
Hyderabad-based startup AdOnMo has raised $25 million in a new funding round led by Rigel Capital and Sinar Mas. Existing investors also took part. The funds will help the company expand from 24 to 40 cities and double its digital ad screens from 50,000 to 100,000.
Founded in 2017 by Sravanth Gajula and Sandeep Bommireddi, AdOnMo offers targeted outdoor advertising with digital screens. Their ads are updated in real-time and blend offline and online marketing. This new investment will help AdOnMo reach over 30 million people in cities across India.
Zomato, a major investor, first backed AdOnMo in 2022 by investing $15 million in its Series B round. The food tech giant holds a 19.8% stake in the company. According to Rigel Capital's Sebastian Togelang, AdOnMo's focus on technology and data-driven ads aligns with their global strategy.