Subko Coffee Roasters, a Mumbai-based specialty coffee and cocoa start-up, has seen impressive revenue growth paired with increasing losses. The company's 94% sales growth in 2023 was overshadowed by a 176% rise in operational costs as they expanded across Mumbai, Bengaluru, and Delhi. Staff costs surged by 154%, raw material costs by 58%, and rent doubled. Despite these challenges, Subko raised Rs 80 Cr ($9.5m) in March 2024, valuing the business at $34m. The funds will support recruitment, product research, and new ready-to-drink coffee products.
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