Toffee Coffee Roasters Raises INR 5 Cr and Jasper Food Buys 10 Percent Stake in SoupX

Coffee brand Toffee Coffee Roasters has raised INR 5 crore in a pre-Series A funding round led by IPV with participation from 66 Bridge Partners, Abhijit Vemuganti and Invesst. The Mumbai-based startup earlier featured on Shark Tank India and is backed by entrepreneur Ritesh Agarwal.

The company said the fresh capital will support expansion of operations. The funds will be used to strengthen the backend roastery, upgrade packaging quality and accelerate new product development.

Toffee Coffee Roasters was founded in 2019 by Rishabh Nigam and Nandini Shrivastava. It began as a specialty coffee cafe in Mumbai before shifting to roasted coffee delivery during the 2020 lockdown. Since then, the company has grown to serve more than 2 lakh customers across online marketplaces, its website and quick commerce channels. It currently operates from a ten thousand square feet roastery where it sources, processes and roasts its coffee.

The startup claims to produce over 5 tonnes of coffee every month and sees consumption of more than 40,000 units monthly. It now aims to scale output to 50 tonnes a month which it expects will support annualised revenue of INR 8 crore to INR 10 crore.

Jasper Food Manufacturers Acquires 10 Percent Stake in SoupX

Jasper Food Manufacturers Pvt Ltd has acquired a 10 percent equity stake in SoupX, a health focused food tech brand that recently appeared on Shark Tank India Season 2.

The company said the move aligns with its plan to enter high growth and complementary food categories as it strengthens its presence in the frozen food segment.

SoupX was founded in 2021 and offers soups and soup based meals tailored to a wide range of dietary needs. Its menu includes vegan, keto and diabetic friendly options. The brand has been growing in the wellness focused prepared food market, which continues to attract consumer interest.

Jasper Food is known for its process driven operations that place strong emphasis on hygiene and consistency. The company has invested in automation, cold chain systems and traceability to maintain product quality from sourcing to final delivery. Its portfolio includes vegetarian and non vegetarian items such as processed meats and Indian specialty foods, all produced in facilities with precision controlled processing lines and rapid freeze technology.

Backed by steady domestic demand and export growth, Jasper Food is expanding its manufacturing capacity. The company is setting up a new 1.25 lakh square feet facility while also advancing sustainability efforts through responsible sourcing, efficient resource use and a gradual shift to recyclable packaging.