Mumbai, September 5: Abhijeet Anand, an alumnus of IIT Dhanbad, has made waves in the coffee industry with his startup, abCoffee, which has generated an impressive ₹113 crore in revenue. After working in the corporate sector for over eight years, Anand returned to India in 2021 and conducted extensive research by engaging with around 10,000 individuals, including café owners and farmers, across 20 cities in 12 states to understand the coffee market.
In 2022, he launched abCoffee, opening his first outlet in Versova, Mumbai, with an initial investment of ₹13 lakh from his savings. The business model focuses on small outlets rather than expensive cafés, allowing for reduced costs in rent and interior design. Prices for coffee and drinks at abCoffee typically range from ₹119 to ₹209.
Initially, the first outlet generated around ₹1 lakh in monthly revenue, but the company now sells approximately 3.5 lakh cups of coffee each month. Anand has successfully opened over 95 outlets in cities including Delhi, Mumbai, and Bengaluru. Recently, abCoffee secured ₹61 crore in a pre-Series B funding round, with the goal of making premium coffee affordable and a daily habit for the masses through efficient ‘grab-and-go’ outlets.
Anand hails from Keshavpur in Jamalpur, Bihar, where he completed his schooling before pursuing a B.Tech in Petroleum Engineering at IIT Dhanbad. After receiving a lucrative job offer from Schlumberger in 2013, he worked in various corporate roles both in India and abroad, where he developed a taste for coffee. Upon returning to Mumbai, he decided to leave his job and embark on his entrepreneurial journey.