Blue Tokai Coffee Roasters Raises Rs 245 Crore
Blue Tokai claimed this to be the largest Series B fundraiser in the Indian specialty coffee industry so far.
Coffee brand Blue Tokai has raised around Rs 245 crore—$30 million—in a Series B round led by A91 Partners.
The funding round has brought on board White Whale Ventures as a new investor, while existing investors including Grand Anicut Fund, 8i Ventures, and leading family offices also participated in the round, the Gurugram-based company said in a statement on Wednesday.
"With this, Blue Tokai’s Series B fundraising marks the largest investment round so far in the Indian specialty coffee industry," the company said.
"We are focused on growing our presence across all of our channels, including our own cafes as well as our B2C and B2B offerings," said Matt Chitharanjan, co-founder and chief executive officer at Blue Tokai. "In the coming three years, we plan to showcase the work done by 100 new specialty coffee producers, thus enabling a far more diverse product offering at Blue Tokai."
"Over the next three years, we plan to add 200 new stores, taking our overall count to well over 250 cafes. We will also be investing in our B2B arm, bringing new technology for our partners through our machine offerings," said Shivam Shahi, co-founder and chief operating officer.
The round follows the company’s previous investment, raised in June last year. It had previously raised a Rs 17 crore bridge in August 2021.
"We believe that Blue Tokai has enormous potential and look forward to supporting their journey as they continue to innovate and expand on their path to an IPO," said Vikram Chachra, Founding Partner at 8i Ventures.