A $30 million Series B investment round was completed by speciality coffee company Blue Tokai Coffee Roasters at an undisclosed valuation. A91 Partners, together with other pre-existing investors like Grand Anicut Fund and 8i Ventures, led the investment.
According to a statement from the company, the money will be used to grow the company and increase its footprint in speciality coffee markets throughout the world. Additionally, the business is working to launch new FMCG products.
Matt Chitharanjan and Namrata Asthana established Blue Tokai Coffee Roasters in 2013 as a roastery. In major Indian cities and regions, including Delhi-NCR, Mumbai, Bangalore, Hyderabad, Kolkata, Chandigarh, Mohali, and Pune, the brand now has four roasteries and more than 60 physical locations. Additionally, it operates internationally from Japan.
Blue Tokai Coffee Secures Funding!
Since the introduction of many domestic as well as international brands, this market has been getting hotter. Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl Coffee, Hatti Kaapi, and other chains like Cafe Coffee Day and Starbucks all compete with Blue Tokai.
Chittaranjan, co-founder and CEO of Blue Tokai Coffee Roasters quoted, “We are focussed on growing our presence across all of our channels, including our cafes as well as our B2C and B2B offerings,”
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In addition to it, he said, “In the coming 3 years, we plan to showcase the work done by ~100 new speciality coffee producers, thus enabling a far more diverse product offering at Blue Tokai. New products, services and farm-level interventions that will further transform the coffee-drinking preferences in the country are making their way to you soon.”
Shivam Shahi, Co-founder and COO of Blue Tokai Coffee Roasters, said, “Over the next 3 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 to our partners through our machine offerings. We look forward to taking India’s finest coffee experience to many more consumers in the coming years, and what better way than 10 years of Blue Tokai to welcome more people into the fold of speciality coffee.”