Third Wave Coffee Roasters

Third Wave Coffee, operating under its legal entity Heisetasse Beverages Private Limited, is a quick-service restaurant chain capitalizing on India's growing demand for specialty coffee. Founded in 2016 by childhood friends Sushant Goel, Ayush Bathwal, and Anirudh Sharma, the company opened its first café in Koramangala, Bengaluru, after a year of extensive research. The founders identified a market gap for high-quality, artisanal coffee that caters to the Indian palate, moving beyond the instant and milky coffee that traditionally dominated the market.

The founders' diverse backgrounds converged to create the brand. Ayush Bathwal developed a passion for specialty coffee culture while working at Qualcomm in San Diego. Anirudh Sharma brought his experience from a family rooted in the hospitality industry and his work with ITC Hotels. Sushant Goel contributed his business acumen from his previous data analytics firm and experience with McKinsey & Co. This blend of expertise shaped the company's focus on quality and customer experience.

The company's business model is centered on a direct-to-consumer approach through its expansive network of cafés and a growing online presence. Revenue is primarily generated from the sale of brewed coffee, food items, and roasted coffee beans. The business also offers a subscription service for regular delivery of fresh beans and has a franchising model to accelerate expansion. For the fiscal year ending March 31, 2024, the company reported operating revenue of ₹241.3 crore, a 67% increase from the previous year. However, net losses also grew to ₹110 crore as expenses rose, particularly in employee benefits and rent, reflecting its aggressive expansion.

Third Wave Coffee positions itself by offering a premium experience focused on ethically and sustainably sourced 100% Arabica beans, primarily from estates in North Karnataka. The coffee is roasted in small batches at micro-roasteries to highlight the unique flavor profiles of each single-origin bean. Their cafés serve a variety of brew methods, from pour-over to AeroPress, and feature a curated food menu with vegan and keto-friendly options. As of October 2024, the company operated 114 cafés with plans for continued rapid growth. Keywords: specialty coffee, QSR chain, cafe franchise, direct-to-consumer, Arabica beans, single-origin coffee, coffee subscription, Indian market, food and beverage, micro-roastery