Third Wave Coffee raises $35 million in funding round led by Creaegis

The specialty coffee & quick service restaurant (QSR) space is set to heat up further with Third Wave Coffee—a Bengaluru-based coffee chain that’s popular with the city’s startup community—raising $35 million in new funding in a round led by private equity firm Creaegis.

Existing investors, including WestBridge Capital and Udaan cofounder Sujeet Kumar, have also participated in the round and Third Wave Coffee is now valued at around $150 million, people aware of the matter said.