Inflection Point Ventures led a Pre-Series A round of funding for Teamonk, a Bengaluru-based premium tea brand. The funds raised will be used to expand domestically and explore uncharted territories in international markets, according to the company.
In April 2017, Ashok Mittal and Amit Dutta founded Teamonk, a wellness direct-to-consumer brand. It is currently distributing its product in the United States, the United Kingdom, the United Arab Emirates, Canada, Germany, Australia, and India. During Covid, the brand debuted a wide range of green teas with Ayurvedic ingredients.
"Pandemic has further heightened the need for wellness and immunity across socio-economic groups globally," said Ashok Mittal, Managing Director of Teamonk. We're thrilled to be able to meet this demand with our line of 100 percent natural, delicious-tasting teas."
"While tea has long been a universal and most preferred everyday antioxidant drink," said Vinay Bansal, Founder & CEO of Inflection Point Ventures, "the last few years have seen a tectonic shift in consumer consumption behaviour globally."
“Consumers are increasingly turning to organic and healthy tea beverages for their taste and health benefits, which include antioxidants, immunity boosters, skin enhancement, anti-aging benefits, increased mental alertness and concentration, and much more."
"Consumers, too, are willing to spend for an authentic cup of tea," Bansal added. “Teamonk has over 64 specialty tea variants and has created exactly what the market requires thanks to their excellent product curation and innovation skills. The brand is poised to become a market leader in the specialty tea segment, and IPV continues to back them up in their efforts to provide the best to tea drinkers not only in India but around the world."
About Teamonk:
It offers high-end specialty teas sourced from the best tea plantations in Darjeeling, Nilgiris, Arunachal Pradesh, and Assam. Tea connoisseurs at Teamonk Global curated the tea selection, which includes exquisite quality Black, Green, Oolong, and White teas. The majority of these teas are exported around the world and are rarely found in India.
