Roastea expects to grow its revenue sixfold this FY 2023 and aims to cement its foothold PAN-India
India, Aug 19th, 2022: The home-grown startup, Roastea, a complete beverage company specializing in fresh milk-based tea and coffee vending machines and premium cafes and kiosks is successfully expanding its footprint across Tier-1 and Tier-2
India, Aug 19th, 2022: The home-grown startup, Roastea, a complete beverage company specializing in fresh milk-based tea and coffee vending machines and premium cafes and kiosks is successfully expanding its footprint across Tier-1 and Tier-2 cities of India. The brand plans to install more than 1200 + vending machines pan- India this fiscal. This will increase Roastea’s presence across eight states and 20 cities. In addition, the company will strengthen its footprint by launching over 30 premium cafes and kiosks (100 sq ft/200 sq ft) across Bangalore, Gujarat and key airports. Fueled by this aggressive growth and expansion, Roastea expects to grow its revenue sixfold this FY 2023.
The growth trajectory for Roastea looks promising. In the financial year 2021, the revenue generated by the company was INR 75 Lakhs. Followed by an increase of fourfold, the company’s revenue grew upto INR 4. 2 crores, and at present, the company expects to grow six folds with a revenue forecast of 25 to 30 crores by FY2023.
With an intention to serve quality and uniform taste beverages across various business verticals, this 1st Omnichannel Beverage Brand of India intends to establish itself as the beverage connoisseur brand across the nation. Roastea’s fresh milk-based coffee and tea vending machines cater to corporates, MNCs, conglomerates, airports and hospitals. Roastea leverages technology and has an unique IoT-enabled setup for all their machines. Their outlets are a one-stop shop for all types of beverages and a variety of regional delicacies.
Founded by brother-duo who are lawyers turned entrepreneurs, Mr. Anurag and Mr. Chaitanya Bhamidipaty, Roastea was conceptualized with a vision to render exceptional quality products whilst catering to all kinds of taste palates.
The beverage industry in India is witnessing exponential growth with the development of preferences for better out-of-home coffee and tea solutions. India’s hot beverage market is pegged at Rs 5,000 crore and the café and retail chain market at Rs 50,000 crore giving Roastea a clear road map for future growth and a large addressable market.
Strengthening its presence in PAN India, Mr. Anurag Bhamidipaty, Co-founder, Roastea said, “We are happy to see significant growth and scale, despite the pandemic. We started the company by identifying the void that the corporate coffee and tea vending has in the market. In the last 2 years, we started operations in Delhi-NCR, Maharashtra, Gujarat, Tamil Nādu, Telangana, Kerala, Uttar Pradesh and Rajasthan. The coming two years will remain crucial for us as we work assiduously to strengthen our presence in this industry. With a robust supply chain and leveraging technology to ensure smooth and seamless operations, we are confident in establishing Roastea as the 1st Omni-channel Beverage Brand in India. This Fiscal we expect to install about 1200 plus vending machines as well as strengthen our B2C footprint in India by launching different formats of outlets (kiosks and cafes) in Karnataka, Gujarat and other airports. This has been a very exciting journey for us thus far and we are excited to continue expanding our footprint to serve more customers across demographics.”
Roastea, curated by connoisseurs operates across multiple verticals viz (a) corporate beverage solutions i.e. coffee and tea vending machines set up at corporates; and (b) Outlets – Establishing Premium cafes and Kiosks at multiple tier 1 and tier 2 cities, airports, railways, corporate parks and the like. The Founders
also plan to launch a unique D2C vertical for its products soon. Roastea envisions reaching broader demography and becoming a distinctive Omni-channel all round beverage brand. The plans to achieve this vision are diverse and have been carefully chartered. The company intends to deliver quality beverages to people with various preferences by inspiring a sense of belongingness.
With its own dedicated manufacturing unit in India, Roastea is a strong supporter of Aatmanirbhar Bharat. The vending machines offers 30 plus beverage solutions with a wide portfolio ranging from filter coffees, western-style coffees (Cappuccino, Latte, Americano), Indian Masala Chais (Elaichi, Ginger, Masala, Tulsi and Lemongrass) to Artisanal Green Teas (Detox Kahwa, Kashmiri Kesar Kahwa, Tulsi Lemon Ginger, Tulsi Pomegranate, Honey Lemon and the like). These vending machines have been designed to provide a seamless beverage dispensing experience to all their customers. A unique brewing technology ensures consistency, premium quality and optimum utilization of resources in a vending machine.
Roastea has already installed over 500 vending machines Pan-India and is present across 8 states and 17 cities. Keeping safety first during the pandemic while serving customers, Roastea leveraged IoT Technology and installed touchless dispensing across all its vending machines. This also helped them analyze consumer behavior and track customer preferences along with ensuring optimum utilization of resources. Roastea, as of date, operates about 10 outlets in Ahmedabad, Mangalore and Bangalore and serves about a whooping 70,000 cups of beverages every day.
Roastea is India’s 1st Omni-Channel Beverage Brand that started operations in Ahmedabad in 2019. Founded by the capital market and private equity lawyers-turned-entrepreneurs duo Chaitanya Bhamidipaty and Anurag Bhamidipaty, Roastea was started with a vision to serve good quality beverages whilst catering to all kinds of palates. The company focuses on serving the best quality out-of-home beverage solutions at corporates and outlets with a unique customer experience at the helm of Roastea.