“The brand is ready to embark on its next leg of growth. Now, as I transition to the board, I am excited to continue contributing towards our vision and growth from a different vantage point. Rajat is a veteran in the QSR industry, and I am filled with optimism on what the future holds for Third Wave Coffee under his stewardship,” Goel said in a statement. He started the firm with Ayush Bathwal and Anirudh Sharma in 2016.
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The company last raised $35 million from PE fund Creagis in September. Goel will transition out of his day-to-day operating role over the next nine months.
“As Sushant transitions to his new role on the board, we are confident that his guidance and strategic insights will continue to steer us towards even greater success. We also warmly welcome Rajat Luthra, who has rich experience with QSRs at scale, and are excited about the fresh perspective and leadership he will bring to the table,” a joint statement from WestBridge Capital and Creagis said.
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