Chaayos

Key Highlights:

  • Chaayos has raised $45Mn in a Series C funding round led by Alpha Wave Ventures.
  • A special resolution was passed by the startup’s board on June 7 to allot more than 13.89 Mn Series C preference shares at an issue price of INR 2,514 to raise $45 Mn.
  • By 2023, India’s tea and coffee chain market is expected to grow to INR 4,540 Cr.

Tea-cafe chain Chaayos was founded in 2012 by Nitin Saluja and Raghav Verma. The startup offers numerous tea varieties and packaged food products. It sells flagship tea through physical stores as well as online marketplaces. It even sells pre-packaged snacks on both platforms.

Recently with the help of Alpha Wave Ventures, Chaayos has raised $45Mn in a Series C funding round.

The startups’ existing investors like Tiger Global Management, Elevation Capital and Think Investments participated in this round. The startup’s valuation stands at around $250 Mn with the recent round.

A special resolution was passed by the startup’s board on June 7 to allot more than 13.89 Mn Series C preference shares at an issue price of INR 2,514 to raise $45 Mn.

Last time in February 2020, Chaayos raised $21.5Mn via equity and debt as part of its Series B round. It had previously raised $12 Mn from various venture capital (VC) firms such as SAIF Partners and Integrated Capital in September 2018.

By 2023, India’s tea and coffee chain market is expected to grow to INR 4,540 Cr.

The startup suffered a significant loss of business during Covid 19 pandemic due to complete lockdown and restrictions.

Talking about the competition in the tea segment Chaayos competes with Chai Point, while in the overall cafe segment Starbucks, Costa Coffee and others are in the race.

For more Startup Finding related News Visit Alphafirm.

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