Concocting A Culture
Anand’s immerses himself in the world of coffee, learning and mastering the nuances of the business
Abhijeet Anand’s journey from a decorated career in the global energy industry to becoming a trailblazer in India’s coffee sector is nothing short of remarkable. As the CEO and founder of Abcoffee, Anand scaled the business from zero to 40 outlets within just 20 months. Under his leadership, the company raised over Rs 50 crore and built a strong team of over 200 employees. His vision to disrupt the coffee landscape in India has positioned abcoffee as a market leader in the tech-enabled ‘grab and go’ coffee segment, setting it apart in the fast-growing mass premium coffee market.
The specialty coffee market in India is currently valued at around USD 750 million and is expected to grow to USD 4.2 billion by 2025. Abcoffee has emerged as a key player in this space, creating a new category and redefining how coffee is consumed in India. With an annual recurring revenue (ARR) of USD 1.2 million and a store-level EBITDA of 10 per cent, abcoffee has shown consistent month-on-month revenue growth of 20 to 25 per cent, making it one of the most successful and profitable startups in the sector.
First-gen Entrepreneur
Anand’s journey, however, wasn’t without challenges. As a first-generation entrepreneur from a lower-middle-class family, he had to pave his own way. Financial independence was his first goal, and from there, he set his sights on building abcoffee into the powerhouse it is today. With no prior experience in the food and beverage industry, he immersed himself in the world of coffee, learning and mastering the nuances of the business. Starting with no connections in the investment world, he single-handedly led fundraising efforts, securing over USD 6 million in less than two years. This achievement has been a testament to his resilience and determination to succeed against the odds.
Before founding abcoffee, Anand had an illustrious 8.5-year career with Schlumberger, the global energy giant. He worked in seven cities across three countries and held six different job roles, becoming one of the fastest-growing professionals in the company’s history. This extensive international experience laid the foundation for his leadership at abcoffee, where he has not only built a successful business but also a thriving community.
Anand’s drive to give back extends beyond abcoffee. He founded the Sarthak Mentoring Foundation to help bridge the socio-economic gap for underprivileged youth. From being the first IIT graduate in his family to creating a multi-million-dollar coffee brand, Anand’s story is one of grit, passion, and an unwavering commitment to making a difference in every industry he touches.
