Blue Tokai, a local speciality coffee firm, has secured $30 million in Series B investment headed by A91 Partners. Blue Tokai will use this round of funding to focus on building its company and extending its speciality coffee presence globally.
A speciality coffee firm, Blue Tokai Coffee Roasters, has raised $30 million in a Series B fundraising round at an undisclosed valuation. A91 Partners led the round, which included previous investors such as Grand Anicut Fund and 8i Ventures.
According to a release, the cash will be used to expand the business as well as its worldwide footprint in speciality coffee markets. Furthermore, the firm is preparing to launch new FMCG items.
Matt Chitharanjan and Namrata Asthana established Blue Tokai Coffee Roasters as a roastery in 2013. The company presently has four roasteries and more than 60 physical locations in key Indian cities and areas like as Delhi NCR, Mumbai, Bangalore, Hyderabad, Kolkata, Chandigarh, Mohali, and Pune. It also has an international presence in Japan.
With the introduction of a number of regional and foreign businesses in recent years, this area has become increasingly competitive. Slay Coffee, Third Wave Coffee Roasters, Sleepy Owl Coffee, Hatti Kaapi, and other chains such as Starbucks and Cafe Coffee Day compete with Blue Tokai.
Blue Tokai Coffee Roasters’ co-founder and CEO, Chitharanjan, said, “We are focused on expanding our footprint across all of our channels, including our own cafes as well as our B2C and B2B services.In the following 3 years, we want to display the work done by ~100 new speciality coffee producers, thereby providing a considerably more broad product range at Blue Tokai. New goods, services, and farm-level initiatives that will further improve the country’s coffee-drinking habits will be available to you shortly.”
Shivam Shahi, co-founder and COO of Blue Tokai Coffee Roasters, added, “Over the next three years, we expect to open 200 more outlets, bringing our total count to well over 250 cafes. We will also invest in our B2B division, introducing new technologies to our partners via our machine offerings. We are excited to provide India’s greatest coffee experience to many more consumers in the future years, and what better way to do it than to celebrate 10 years of Blue Tokai?”
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