abCoffee aims to be the go-to neighborhood coffee shop

Coffee culture and its related business are booming globally. In 2022, the global coffee market was valued at $79.5 billion and this is expected to grow at a CAGR of 5.12% to $112.8 billion by 2030. This coffee wave is slowly rising in India as well with consumers accepting and looking for single-serve coffee brands and an everyday fresh brew coffee brand.

Bringing a country that prefers chai over coffee, it is hard to find affordable and good coffee in the neighborhood coffee stands. Most brands that are currently established in the Indian market often lean towards the side of luxury coffee, one that cannot be afforded a daily drink for people of all tiers of the country.

In order to close this gap in the Indian coffee industry, Abhijeet Anand started abCoffee in 2022. “India is the seventh largest producer of coffee and the eight largest exporter…yet there is a gap in the market and it is difficult to find a premium cup of affordable coffee.”, Founder and CEO Anand told Entrackr.

Striving to be the local coffee shop that every coffee lover relies on, abCoffee is a quick service restaurant that offers coffee on-the-go. The year-old company procures its coffee beans from Chikmagalur, a city in Karnataka known for its coffee estates. These are then brought in-house and roasted in batches twice every month to suit the Indian palette. Noticing the popularity of cutting chai amongst Indian Anand said, “We Indians love thicker and bolder drinks. We love strength in our drinks and that is what we did with coffee as well.” 

The coffee beans are kept aside to settle for seven days after roasting. The period of 7-30 days is considered a sweet spot for coffee beans, where the flavor and aroma of caffeine is at its best, making it the best time to brew a fresh cup of coffee, explained Anand. abCoffee’s fresh brew coffee starts at Rs 77 for a single cup and differs according to the flavors chosen by the customer.

The Mumbai-based company serves over 95 different varieties of coffee like cold coffee, iced lattes, affogato etc. apart from its coffee centered beverage menu it additionally serves savories that go along with coffee like croissant, Danish pastry. With over 12 lakh monthly customers, the company is currently present only in Mumbai. It plans on opening stores across Maharashtra, Gurgaon and seven other states in the next few months.

In December, abCoffee raised a total funding of $300k from Angel Investors. The company’s current valuation stands at $6 million. In FY22, the company saw a revenue of Rs 52.5 lakhs and has a 30% m-o-m growth rate. 

Keeping coffee as its focal point, abCoffee plans on opening 10,000 outlets across India. Working on creating varieties within the beverage, it also plans on going international adapting to foreign taste palettes as well.