Sequoia invests $20 million in...an Indian coffee company?
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Word comes from Sahad PV, the blogger at VC Circle who does an Indian equivalent of SiliconBeat.
So at Sequoia lately we have T-Shirts, and now coffee. And quite a mature large coffee company at that. We also have shoes, dolls for little girls, and weather. What are they drinking over their at Sequoia. Decaf? ;)
This does match what we've heard about investing in India, that is is still mostly late-stage.
http://www.siliconbeat.com/cgi-bin/mt331/mt-tb.cgi/1617
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Actually about 10 days ago one of the Indian newspapers mentioned $40 million (there were off by $20 million!) in funding for Amalgamated Beans y that owns Cafe Coffee Day chain in India.
http://kamlabhatt.wordpress.com/2006/07/04/sequoia-to-invest-40-million-in-cafe-coffee-day/
Kamla on July 19, 2006 12:03 PMComment link
Interesting, my first experience going to coffee day in Hyderabad, India was not that pleasant!!
First, coffee costs as much as $2....where as in the same neighbourhood one can get coffee for 25c. Then they have this very loud, ear piercing rock music in the background, literally got a headache in a minute, could not stand for 5 minutes left the place without coffee!!
Recently I heard from friends that this place is popular with college kids, hip recruiters, and young couples!
-Bala
bala on July 19, 2006 4:20 PMComment link
I agree with the rock music thing...gives a damn headache.
vish on July 19, 2006 8:44 PMComment link
Haha, welcome to the Indian Starbucks folks! Only thing you haven't complained about is the chills. They turn on the conditioners so you don't stay too long and hog the chairs ;)
Matt Marshall on July 19, 2006 10:37 PMComment link
quite a good investment as there is a dearth of coffee shops in India, Southeast Asia & Middle East. And considering Starbucks can always buy Coffee Day later, it makes sense.
RYK on July 19, 2006 10:56 PMComment link
