Teabox said it was disrupting the $40 billion (Rs.2.7 lakh crore) tea industry with its innovations in technology and supply chain. It has developed its own supply chain model where it controls the sourcing, distribution and marketing of tea. It protects the tea from moisture, light, heat and oxygen using technologies such as vacuum packaging and cold storage.
The algorithms developed by the firm help new tea drinkers to decide whether to buy tea like ‘Margaret’s Hope Moonlight Spring White’ or ‘Kashmiri Kahwa’ by analysing their taste preferences. Teabox has also developed software that helps it calculate the best logistical route in different parts of the world.
“It will take us just one week to deliver tea in places like Russia instead of almost a month,” said Mr. Dugar whose firm is backed by investors such as American billionaire Robert M. Bass and Accel Partners. It sells tea products ranging in costs from Rs.5,000 to Rs.1.5 lakh per kg.
Mr. Tata, who steered India’s biggest industrial group for two decades, is now among India’s top angel investors by the number of deals. In the last two years, he has backed about 21 companies such as baby care retailer FirstCry, online pet care platform Dogspot and electric vehicle firm Ampere. However, the tea industry is not something new for him.