Third Wave Coffee
Third Wave Coffee is an Indian specialty coffee retailer and roaster operating 220+ company-owned cafés across 13+ cities, plus a direct-to-consumer e-commerce and wholesale business for 100% Arabica coffee sourced from Chikmagalur and the Nilgiris. It serves urban Indian coffee enthusiasts with café experiences, fresh-roasted beans, and single-serve coffee and cold brew bags.
- Company typePrivate
- Founded2016
- HeadquartersBengaluru, India
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Third Wave Coffee does
Third Wave Coffee is an Indian specialty coffee company operating as a wholly owned subsidiary of Heisetasse Beverages Private Limited, founded in Bengaluru in 2016. The company runs a coffee-first QSR (quick service restaurant) business through 220+ company-owned and operated cafés across 13+ cities including Bengaluru, Mumbai, Delhi NCR, Hyderabad, Pune, Chandigarh, Gurugram, Coonoor, and most recently Kolkata (entered June 2026). Its core products are 100% Arabica coffee — whole beans, signature blends, single-origin lots from Chikmagalur and the Nilgiris, Easy Coffee Bags (single-serve drip bags), and Easy Cold Brew Bags — all roasted in-house in small batches and typically shipped within 24-48 hours of roasting. The company also sells branded merchandise (mugs, brass coffee sets) and supplies coffee wholesale to other cafés and restaurants.
Revenue is generated primarily through in-café beverage and food sales, direct-to-consumer e-commerce at thirdwavecoffeeroasters.com (priced in INR: Rs. 600-700 per 250g of beans; Rs. 300-500 for boxes of Easy Coffee Bags), Swiggy delivery, and a wholesale channel. The company targets urban Indian coffee consumers aged 20-35 and positions its cafés as community and cultural "third places," partnering with Crossword and Bahrisons bookstores for events. Under CEO Rajat Luthra (joined March 2024), the company executed a profitability-focused turnaround, narrowing net losses from Rs. 152.4 crore (FY24) to Rs. 94.4 crore (FY25) on Rs. 285.2 crore in FY25 revenue, with 95%+ of cafés unit-economics positive. The company is also building AI-native platforms for personalization and loyalty, and is currently raising an $80-100 million round at a $400-500 million valuation to expand toward 320 outlets by FY27.
Third Wave Coffee firmographics
Firmographics- Name
- Third Wave Coffee
- Legal name
- Heisetasse Beverages Private Limited
- Website
- https://thirdwavecoffeeroasters.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Third Wave Coffee is an Indian specialty coffee retailer and roaster operating 220+ company-owned cafés across 13+ cities, plus a direct-to-consumer e-commerce and wholesale business for 100% Arabica coffee sourced from Chikmagalur and the Nilgiris. It serves urban Indian coffee enthusiasts with café experiences, fresh-roasted beans, and single-serve coffee and cold brew bags.
- Ownership category
- akta.pro rank
Third Wave Coffee industry classification
Industry- Product category
- Specialty Coffee Café Chain
- NAICS
- Coffee and Tea Manufacturing (31192), Snack and Nonalcoholic Beverage Bars (722515), Coffee and Tea Manufacturing (311920)
- SIC
- Beverages (2080)
- akta.pro primary industry
- Specialty Coffee Shops (Single-Origin, Third-Wave) (THAFADAA)
- akta.pro secondary industries
- Coffee Roasters with Cafe (Roastery Cafes) (THAFADAE), Coffee Blending & Flavoring (AFAFADAC), Espresso Bars & Coffee Bars (THAFADAD), Cafe-Bakeries (Coffee + Pastry Focus) (THAFADAG)
Keywords
Where Third Wave Coffee is headquartered
LocationHeadquarters
- HQ city
- Bengaluru
- HQ country
- India
- HQ region
- Asia
Offices10 records
Markets served
Third Wave Coffee business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Café/Store Sales: Revenue generated from company-owned and operated café locations serving beverages and food to walk-in customers. The company is piloting the Third Rush dessert sub-brand to boost transactions beyond peak coffee hours and improve margins.
- E-commerce (Coffee Beans, Easy Coffee Bags, Cold Brew Bags, Merchandise): Direct-to-consumer online sales of roasted coffee beans, Easy Coffee Bags, Cold Brew Bags, and branded merchandise through the company's e-commerce website (thirdwavecoffeeroasters.com). Coffee is roasted to order and shipped within 24-48 hours.
- Wholesale/Bulk Coffee: Third Wave Coffee supplies its fresh, high-quality coffee to other cafés, restaurants, and vendors through wholesale partnerships, allowing these establishments to serve Third Wave Coffee branded or supplied coffee.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Single-Origin and Blended Coffee Beans (250g) |
| Unit Pricing | Pay-as-you-go | Easy Coffee Bags (Box of 5 or 10) |
| Unit Pricing | Pay-as-you-go | Easy Cold Brew Bags (Box) |
| Unit Pricing | Pay-as-you-go | Merchandise (Drinkware and Accessories) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
Third Wave Coffee product offering
Product offeringCore offering
Third Wave Coffee is a specialty coffee company that roasts and serves 100% Arabica coffee through a chain of 220+ company-owned cafés across India and sells packaged coffee products (beans, easy coffee bags, cold brew bags) via a direct-to-consumer e-commerce store. The company also operates a dessert sub-brand (Third Rush), a small-format kiosk format (Third Wave Zip), and a wholesale coffee supply business.
Product overview
Third Wave Coffee is a coffee-first QSR (quick service restaurant) chain offering a unified brand experience across physical cafés and e-commerce channels. The core product portfolio consists of premium whole bean and ground coffees (Coffee Beans), ready-to-brew instant coffee bags (Easy Coffee Bags), and cold brew solutions (Easy Cold Brew Bags), all featuring 100% Arabica beans sourced from Indian farms. The company operates over 220 cafés across India under the main café format, supplemented by the pilot small-format kiosk concept (Third Wave Zip) and a dessert sub-brand (Third Rush). An add-on merchandise line offers branded drinkware and traditional coffee accessories.
Differentiator
Problem solved
Functional benefit
Brands
- Third Rush: Dessert-first format launched to boost footfall beyond peak coffee hours
- Third Wave Zip
Products and services
- Specialty Coffee Beans
- Easy Coffee Bags Single-serve, easy-to-brew coffee bags containing Third Wave's specialty 100% Arabica coffee, designed for consumers who want convenient at-home brewing without equipment.
- Easy Cold Brew Bags Pre-portioned cold brew coffee bags that allow consumers to prepare cold brew coffee at home using Third Wave's specialty 100% Arabica beans.
- Third Wave Coffee Cafés Network of 220+ company-owned specialty coffee cafés across India serving 100% Arabica coffee beverages and food to individual consumers in a café/third-place setting.
- Third Rush Dessert sub-brand offering a curated range of desserts to consumers through Third Wave Coffee cafés, extending the brand's food and beverage offering beyond coffee.
- Third Wave Zip Compact, small-format coffee kiosks operated under the Third Wave Coffee brand to serve specialty coffee to consumers in high-footfall, non-traditional café locations.
- Coffee Merchandise Branded coffee-related merchandise (e.g., mugs, tumblers, accessories) sold to consumers through Third Wave Coffee cafés and e-commerce store as add-on products.
- Wholesale Coffee Supply Bulk supply of Third Wave Coffee's specialty roasted coffee to B2B customers such as hotels, restaurants, cafés, and corporate offices for use in their own food and beverage operations.
Quantifiable outcome
- Revenue grew from Rs. 249 crore (FY24) to Rs. 285.2 crore (FY25), a 15% year-on-year increase
- +4 more outcomes
Companies that use Third Wave Coffee
Customer profileSegments3 records
Ideal customer profiles2 records
Third Wave Coffee technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability4 records
Feature1 record
Third Wave Coffee partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor.
- Crossword BookstoreminorThird Wave Coffee has partnered with Crossword Bookstore, an iconic Indian bookstore chain, to create café-bookstore spaces in their Delhi location. The partnership integrates high-quality coffee with rich literary culture, hosting book launches, author meet-and-greets, and reading clubs. The collaboration underscores the company's commitment to community and cultural experiences.
- Bahrisons BookstoreminorThird Wave Coffee has partnered with Bahrisons Bookstore, known for its curated selection of literature, in select locations across Mumbai, Bengaluru, Pune, Chandigarh, and Delhi. Bahrisons enriches the cultural fabric of Third Wave Coffee locations, and the partnership hosts events such as book launches, author meet-and-greets, and reading clubs.
- SwiggyminorThird Wave Coffee cafés are available for ordering through Swiggy's food delivery platform. Each café location on the Third Wave Coffee website includes a Swiggy ordering link.
Scale indicators8 records
Recent moves10 records
Expansion highlights6 records
Third Wave Coffee competitors and assessment
Company assessmentDirect peers
- Tim Hortons India: Canadian coffee chain's India operation, expanding cafés across North India. Competes directly with Third Wave for café traffic in Delhi NCR and other Tier-1 cities at a comparable price-to-quality positioning.
- Barista Coffee Company: Indian specialty coffee chain serving espresso-based beverages across cafés. Directly comparable business model — owned cafés, espresso-focused menu — competing for the same urban coffee-drinking segment.
- Blue Tokai Coffee Roasters: India's largest specialty/third-wave coffee roaster with both cafés and a D2C packaged coffee business. Directly competes with Third Wave on café experience, single-origin sourcing, and online bean/bag sales.
Emerging players
- Black Banta Coffee: Emerging Indian specialty coffee chain with cafés in select cities and a growing D2C bean business. Comparable as a newer café+roastery competitor pursuing the same third-wave positioning as Third Wave.
- Sleepy Owl Coffee: D2C cold brew and instant specialty coffee brand that overlaps with Third Wave's Easy Cold Brew Bags and at-home product line. Targets similar urban consumers through e-commerce rather than cafés.
- Rage Coffee: D2C Indian specialty coffee brand offering flavored and functional coffee products. Overlaps with Third Wave's packaged coffee e-commerce business and shares the urban Indian consumer base.
Regional players
- Devan's Coffee: Indian coffee roasting and B2B supplier with its own retail presence. Comparable on the manufacturing/wholesale side of Third Wave's business, particularly for HoReCa coffee supply.
Broad incumbents
- Costa Coffee India: UK-based coffee chain operating in India through licensed cafés. Competes for premium café real estate and specialty coffee occasions in Tier-1 Indian cities.
- Café Coffee Day: India's largest legacy coffee chain with hundreds of cafés. While positioned more for mass-market coffee, it competes with Third Wave on café real estate and the entry-level specialty consumer.
- Tata Starbucks: Starbucks' India joint venture with Tata, operating premium coffee cafés across major Indian cities. Competes with Third Wave for the urban specialty coffee consumer but at a higher price point and broader product mix.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Third Wave Coffee social profiles
Digital presenceThird Wave Coffee financial estimates
Financial estimateRevenue estimate
Valuation estimate
Third Wave Coffee leadership team
Management profileNumber of profiles
Profiles5 records
Third Wave Coffee subsidiaries and ownership
Company hierarchySubsidiaries1 record
Third Wave Coffee funding detail
Funding detailFunding overview
Funding rounds7 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Third Wave Coffee M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Third Wave Coffee
What does Third Wave Coffee do?
Third Wave Coffee is a specialty coffee company that roasts and serves 100% Arabica coffee through a chain of 220+ company-owned cafés across India and sells packaged coffee products (beans, easy coffee bags, cold brew bags) via a direct-to-consumer e-commerce store. The company also operates a dessert sub-brand (Third Rush), a small-format kiosk format (Third Wave Zip), and a wholesale coffee supply business.
Is Third Wave Coffee a public or private company?
Third Wave Coffee is a private company. It is classified as venture growth investor backed and is currently operating.
When was Third Wave Coffee founded?
Third Wave Coffee was founded in 2016. It employs 251 to 500 people.
Where is Third Wave Coffee based?
Third Wave Coffee is headquartered in Bengaluru, India, in the Asia region.
How does Third Wave Coffee make money?
Three revenue lines are on record. Café/Store Sales are the primary driver. The others are E-commerce (Coffee Beans, Easy Coffee Bags, Cold Brew Bags, Merchandise) and wholesale/Bulk Coffee.
Who are Third Wave Coffee's main competitors?
Direct peers on record are Tim Hortons India, Barista Coffee Company and Blue Tokai Coffee Roasters. Emerging players are Black Banta Coffee, Sleepy Owl Coffee and Rage Coffee. Devan's Coffee is listed as a regional player. Broad incumbents are Costa Coffee India, Café Coffee Day and Tata Starbucks.
Does Third Wave Coffee have an API?
No public API is recorded for Third Wave Coffee.
What industry is Third Wave Coffee in?
Third Wave Coffee's product category is Specialty Coffee Café Chain. Its primary akta.pro industry code is THAFADAA, Specialty Coffee Shops (Single-Origin, Third-Wave), with a secondary code of THAFADAE, Coffee Roasters with Cafe (Roastery Cafes). Its NAICS code is 31192 and its SIC code is 2080.