Chaayos
Key Highlights:
  • Chaayos, A Tea-cafe chain has raised $53 Mn in its Series C funding round led by Alpha Wave Ventures.
  • By the end of 2022, the Tea-cafe chain plans to add 100 additional physical stores.
  • The startup currently operates 190 stores across 6 cities.

Chaayos, A Tea-cafe chain has raised $53 Mn in its Series C funding round led by Alpha Wave Ventures. Elevation Capital, Think Investments and Tiger Global also participated in the fundraising.

Chaayos was founded by Saluja and Raghav Verma in 2012. It offers multiple varieties of teas and pre-packaged food products.

With the new funds, the startup will ramp up its infrastructure and hire across multiple verticals. According to a press release, As part of the investments, Chaayos’s physical store footprint will expand across more locations.

By the end of 2022, the Tea-cafe chain plans to add 100 additional physical stores.

The CEO of Chaayos Nitin Saluja said “Our latest capital raise will allow us to make deep technology investments that will enhance the guest experience and allow us to become a household name for decades to come in Indian society. In addition to expanding our cafe footprint, we intend to expand into new cities and explore new markets. Likewise, we are constantly looking for talent to handle our ambitions”.

Besides prepackaged snacks, the omnichannel platform Chaayos sells a variety of other products on both offline and online marketplaces. 45% of the startup’s revenue comes from online tea deliveries.

As of February 2020, the cafe chain had raised $21.5 Mn via equity and debt. It had raised $12 Mn from venture capital firms such as SAIF Partners and Integrated Capital as of September 2018.

The startup currently operates 190 stores across 6 cities and Implements new-age technologies such as artificial intelligence (AI) and the internet of things (IoT).

The chain mainly competes with Chai Point in the tea segment, while it competes with players such as Starbucks, Costa Coffee, and others in the cafe segment.

For More Startup and Funding-related News Visit Alphafirm.

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