IIFL leads Rs 174 Cr Series D round in Vahdam Teas

Vahdam Teas, an e-commerce startup that sells fresh teas, has raised Rs 174 crore or about $24 million in its Series D round led by IIFL AMC’s Private Equity Fund. Existing backers along with a consortium of Sixth Sense Ventures affiliates, the Mankind Group Family Office, Kris Gopalkrishnan’s family office, Urmin Group and White Whale Ventures have also participated in the round.

With this round, the total funding raised by Vadham stands at Rs 290 crore.

According to the New Delhi-based company, the fresh capital will be used to expand its distribution across omni channels, as well as entering new geographies and foraying into new complementary categories.

Founded by Bala Sarda, Vahdam directly sources tea and spices from farms and estates across India, and also owns an in-house manufacturing unit in the national capital region. It locally distributes its products across key markets including the US, Canada, and Europe. 

The six-year-old company claims that it recorded a two-fold jump in its income in FY 21 and clocked over Rs 160 crore in net revenues, as compared to Rs 70 crore in FY20.