Funding marks Japanese VC firm DGDV’s maiden investment in India’s specialty coffee market First Coffee has expanded to 25 stores since its last funding back in 2024, and plans to expand beyond urban markets with the funding With this latest round, First Coffee has raised $2.5 million to date. First Coffee, India’s grab-and-go specialty coffee brand, raised $1.3 million in a pre-Series A funding round led by Japanese venture capital firm DG Daiwa Ventures (DGDV). The round also saw participation from other notable investors such as BEENEXT, Sanjay Kapoor (Co-Founder and MD, Genesis Luxury), Shashank Bhagat (Chairman, BI Group) and other angels. The deployed funds will be used to accelerate store expansion, build a formidable corporate team, strengthen brand value through marketing initiatives, and further investments in product line development. With this latest round, First Coffee has raised $2.5 million to date. Founded by Sohrab Sitaram and Shiv Dhawan in 2024, First Coffee combines design, culture and a new customer experience with mass premium speciality coffee. The company integrates data-driven ethical sourcing with innovative menu engineering, creating a new-age retail model that streamlines operations and makes the purchase experience more convenient for customers. This investment marks DGDV’s foray into India’s specialty coffee market, signalling the country’s huge global and growing market potential. Makoto Ibi, Head of Global Investment at DGDV, said, “We are glad to partner with First Coffee and fuel their ambition to change coffee culture in India. India remains a key market for us, and through First Coffee we are excited to tap into the specialty coffee space in the country.” “Over the last one year, First Coffee has built a very strong brand in North India, especially among younger consumers, serving their high quality specialty coffee across more than 25 outlets. The founder's previous F&B experience in founding and scaling Keventers has been instrumental in achieving that. We are happy to be a part of this funding round and continue supporting Sohrab and Shiv in their aim to elevate urban India's coffee-drinking experience.” said Anirudh Garg, Partner at BEENEXT, on First Coffee and its offerings. First Coffee has gained considerable market share amongst Gen Z consumers by offering premium beverages focusing on cold coffee-based beverages and matcha. First Coffee has experienced some of the highest repeat rates amongst young customers in the industry. First Coffee ensures that its coffee is premium quality and sourced sustainably. Shiv Dhawan, Co-founder of First Coffee, said, “We are happy to see our theory play out in practice. Over the last couple of years we have learnt a lot, and the experiential data is further shaping our thesis. We believe that our hybrid go-to-market strategy that includes an increased focus on the small format model is a differentiated offering that elevates the customer experience. In the next decade
