Third Wave Coffee bets on desserts and $100M round to fix its loss-making cafe math
Bengaluru chain Third Wave Coffee is pivoting into desserts via Third Rush after FY24 losses of Rs 150 crore on Rs 250 crore revenue. New CEO Rajat Luthra narrowed FY25 losses to Rs 94 crore on Rs 285 crore revenue, with 90% of cafes now Ebitda positive. It plans 50 new cafes and a $100M growth round from Westbridge and Creagis.
Bengaluru's Third Wave Coffee pivots to desserts via Third Rush amid heavy losses. New CEO Rajat Luthra narrowed FY25 losses; chain plans 50 cafes and is raising a $100M round from Westbridge and Creagis.